Update on ZahidZahid is now married, and his son was born just a week ago. He lives in the Absheron Region with his wife and child. Zahid is 26 years old. For the last seven years, he has owned a barber shop, where he also works himself. Now that he has a child, Zahid needs to increase his monthly income, and therefore he needs 2000 AZN to buy new equipment (hair-cutting and shaving instruments, hair dryer etc) in order to improve his work and increase his revenues. This is Zahid's second loan. He says that his first loan was very helpful: he was able to renovate and upgrade his shop. He is grateful to Kiva and the lenders for their help.
Po yego slovam pervaya ssuda ochen pomogla yemu i on smog zdelat remont i uludshit sostoyaniye svoyego parexmaxerskogo. On ochen blagodaren Kive i Lenderam za takuyu pomosh.
Previous Loan DetailsZahid A. was born in 1986. He is single. He lives in the Absheron Region. He lives with his relatives. He has been in this business for five years already. He learned the trade from his grandfather, who was a real master of his trade and had many loyal customers in his town. Now Zahid would like ... More from Zahid's previous loan »
About KomakKomak 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.
Concurrent and Successive Loans
Our Field Partners often work with borrowers over a series of loans as the borrowers build credit, take out bigger loans, and expand their businesses. In order to make it easier for our Field Partners to post loans for borrowers who have been listed on Kiva before, we allow them to post successive and concurrent loans for their Kiva borrowers. This means that our Field Partners are able to post a borrower's second, third, etc., loan on Kiva without having to re-enter all of the borrower's information.
This borrower has been listed on Kiva before, so you'll see an updated loan description, as well as excerpts of the original descriptions from earlier loans. Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Field Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These "add-on" loans are typically smaller than the borrower's primary loan and serve a different purpose. Because Field Partners can now post loans as successive and concurrent loans, you will be able to track borrower progress over time and see the various ways a borrower is working with our Field Partners through funds from Kiva’s lenders.
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