Maksim is 40 years old and an internally displaced person from the region of Khalbadjar. He now lives in the Absheron region. He is the sole provider for his family and has two teenage boys. In his store he sells cooking pots and dishes, a business he learned from his brother ten years ago.
Maksim is asking for a loan of 2,000 AZN to update his merchandise. He hopes that having more (and newer) merchandise in his store will help him sell more competitively. To buy new items, he would travel to the Logbatan region.
Komak means “help” in Azerbaijani. As of its creation in 1999, Komak has kept true to its name by helping thousands of Internally Displaced Persons, refugees and the economically disadvantaged by providing these groups with sustainable credit services. As of 2010 Komak’s $2.5 million portfolio serves 1513 clients, 81% of whom are IDPs, and 40% of borrowers are women. In 2009, Komak was cited in a report by the United Nations General Assembly as one of Azerbaijan's prominent forces in restoring the local economy by enabling small and medium enterprises with credit. For more on Komak, please join our lending team, Friends of Komak Credit Union.