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Khanlar R. is a 27-year-old farmer with two cows who sells dairy products to traders who, in turn, sell them in a nearby bazaar. He lives in the southern Azerbaijani region of Bilasuvar, where he relocated after fleeing Nagorniy Karabakh during Azerbaijani-Armenian conflict in 1993. He is married and has two children.

Khanlar has been selling dairy products, including milk, butter and yogurt, for five years. He started his business with money his parents saved for him. He began with one calf, which is now a full-grown cow. This cow has produced enough dairy products to allow him to buy a second cow. Khanlar would like to continue to expand his business because dairy products are in high demand all across Azerbaijan -- particularly in Baku, the capital, whose traders come Bilasuvar to purchase dairy products.

To meet his goal, Khanlar has come to us for a loan to buy one milk cow and two calves. He estimates that one cow will cost $700-800, and the calves will cost $200-250 each.

Additional Information

About Aqroinvest

Aqroinvest Credit Union was founded by a group of 32 Imishli farmers in 2001, and has grown to become one of the largest credit unions in Azerbaijan. It boasts a portfolio of nearly $5 million and is wholly owned by its more than 3,500 borrowers, as of December 2011.

You can join Aqroinvest's Kiva lending team, Aqroinvest Dostları (Friends of Aqroinvest), and become a fan of the organization on Facebook here.

About Azerbaijan

  • $6,171
    Average annual income
  • 24
    View loans »
    Azerbaijan Loans Fundraising
  • $13,995,725
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $1,200 helped Khanlar to purchase one cow and two calves.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Oct 18, 2007
Oct 3, 2007
Currency Exchange Loss:
May 15, 2009