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Farac
Farac is a 41-year-old married man with two children. He was unemployment for several years and to improve his situation he started a farming business 9 years ago. Now this is the main source of income for his family.

Raising and selling fresh fruits and vegetables brings stable income and is in high demand among the Azerbaijani people. Fresh vegetables are good for national dishes like pilau and dolma. Fresh fruits are favorites for punch. Farac usually sells his crops in the central bazaar and his profit per month is 300 AZN.

Farac decided to expand his business. For this purpose, he applied for 1500 AZN in loan. He will buy seeds and fertilizers to increase his crops and cover his customers' demand. This is Farac's second loan and he has a good client history.

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
  • 26
    View loans »
    Azerbaijan Loans Fundraising
  • $13,991,525
    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 Farac buy seeds and fertilizers.
100% repaid
Repayment Term
17 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jan 17, 2012
Listed
Feb 10, 2012
Currency Exchange Loss:
Covered
Ended:
Feb 15, 2013