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Hafiz is a 57-year-old man who has engaged in milk and dairy product sales for the last 6 years. He sells dairy products in the local bazaar. This is the only source of income for the family. That’s why Hafiz would like to expand his business and purchase additional two milkier cows. To do that he has applied for a loan of 1800 Azerbaijan New Manat (AZN) loan.

This will be his fifth loan and he has a good credit history. Now he applies for 1800 AZN from AqroInvest and Kiva. After he repays this loan he plans to apply for more loans to grow his business.

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
  • 14
    View loans »
    Azerbaijan Loans Fundraising
  • $13,995,725
    Funds lent in using Kiva
  • 0.8
    Azerbaijan New Manats (AZN) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,300 helped Hafiz to buy two milking cows.
100% repaid
Repayment Term
17 months (Additional Information)
Repayment Schedule
Oct 20, 2011
Dec 1, 2011
Currency Exchange Loss:
Jan 15, 2013