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Ibrahim
Ibrahim S. is a 53-year-old married man who has three children. He is a farmer in Varkhankend Village near Imishli town, situated in the southern part of Azerbaijan. He started his business in 1999, when he purchased one cow with money he had saved up. He has made very good profit by selling milk products such as yoghurt, sour-cream, and milk. These products are in high demand in his area.

Over the years, life in Azerbaijan has gotten harder and harder and to cover family needs, one cow is not enough. In 2006 Ibrahim borrowed US$ 500 to add to his own savings of $250 and purchased another milk cow. Since January 2007, prices have doubled and Ibrahim has applied for a loan of $800 from Aqroinvest CU to purchase two calves for meat production. The estimated cost for one calf is $400.

Additional Information

About Aqroinvest:

Aqroinvest Credit Union was founded in 2001 by a group of 32 farmers from Imishli. It has since grown to become the largest credit union in Azerbaijan, owned by its more than 5,400 borrowers and boasting a portfolio of nearly US$12 million.
AqroInvest is focused on providing loans to the following groups of people: rural farmers, people living in distant southern villages with little or no access to finance and internally displaced people and refugees, many of whom lost their homes and livelihoods during the violent conflicts in the 1990s.

In May 2011, Aqroinvest started a new project with Kiva proving higher education loans to students. The project gives students the support and financing they need to continue their education and helps pay for tuition fees at various universities in Azerbaijan. Aqroinvest is the first credit union in the country to offer students loans.

About Azerbaijan

  • $10,800
    Average annual income
  • 25
    View loans »
    Azerbaijan Loans Fundraising
  • $14,260,675
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $800 helped Ibrahim purchase two calves to expand his micro-business into meat production.
100% repaid
Repayment Term
18 months (Additional Information)
Repayment Schedule
Monthly
Disbursed:
Sep 13, 2007
Listed
Aug 28, 2007
Currency Exchange Loss:
N/A
Ended:
Jan 15, 2009