Update on ValehValeh is an IDP from the city of Fuzuli, which is now an occupied territory. He currently lives in the Absheron region together with his family. Valeh is 46 years old, married and has three children. He is a hardworking person, who loves to create novelties and developments in his business. Valeh needs 1000 AZN to increase his store space in order to place more merchandise there. He has previously obtained loans through Kiva several times and is very satisfied and grateful to all the lenders. He is a good client of Komak, who always repays his loan in a timely manner.
Previous Loan DetailsValeh is married and has 2 children. He was born in 1966. Valeh is a refugee from the city of Fuzuli. Currently, he lives in the Absheron region. He has been in this business for 16 years. Valeh already borrowed money from Kiva once and is very grateful to Kiva that they helped him develop his… More from Valeh'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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