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Ali
I. Ali is 55 years old. He is married and has two children. He is the sole breadwinner for his family, and his only income comes from raising and selling sheep and large livestock at the local market. Every year, he buys young heifers and sheep from farms in adjacent villages. He raises them with the help of his sons and then sells the adult cows and bulls to local butchers.

Ali is thinking about expanding his business because the income from his present herd is not sufficient to provide for his family. He plans to purchase more lambs. To do so, he needs to invest an additional 1000 AZN in his business. In order to obtain this amount, he has applied, for a second time, for a loan from Kiva. Ali has a good client history and has successfully finished his first loan.

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

  • $6,171
    Average annual income
  • 46
    View loans »
    Azerbaijan Loans Fundraising
  • $14,162,625
    Funds lent in using Kiva
  • 0.8
    Azerbaijan New Manats (AZN) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,250 helped Ali to purchase 15 sheep and fodder.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Oct 8, 2010
Listed
Oct 21, 2010
Currency Exchange Loss:
Covered
Ended:
Nov 15, 2011