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Balakhan is married and lives with his wife and four children in Agsu, a province of Azerbaijan. His wife does the household chores and takes care of their children. In 2005, Balakhan decided to open a home goods store. When he started operating his business, he had much less working capital than he does now, after years of successful operation. Balakhan's trading business has grown thanks to his first loan with AqroInvest in 2010. He has a good loan history. Nowadays his monthly income is around 250 AZN. After successfully repaying his previous loans, he has requested a fourth loan in the amount of 1500 AZN to provide working capital to purchase more merchandise. Balakhan and his family are very thankful to AqroInvest and Kiva.

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
  • 23
    View loans »
    Azerbaijan Loans Fundraising
  • $14,289,125
    Funds lent in using Kiva
  • 0.8
    Azerbaijan New Manats (AZN) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,925 helped Balakhan to purchase more merchandise.
100% repaid
Repayment Term
17 months (Additional Information)
Repayment Schedule
Oct 24, 2011
Jan 1, 2012
Currency Exchange Loss:
Feb 15, 2013