Vagif applied for a loan of $300 to buy writing materials. He wants to improve his business. For the first time he borrowed a loan of $600 and repaired his own shop.
This 52-year-old man is Internally Displaced Person (IDP) from the Armenian-occupied territory of Azerbaijan Agdam region, settled in Khirdalan settlement, married has 2 children.
Now he applied for a loan of $1000 to expand the area of his shop and o increase range of goods.
You can see his shop in the picture. This shop is very small.
He has been engaged in this business for 5 years.
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.