To earn a living, Kamala grows seasonal fruits and vegetables and sells her crops in the central bazaar. Her son helps her with the business. Her monthly income is approximately 100 AZN. She explains that her business is the main source of income for her family.
People use fresh vegetables on a daily basis because many national dishes (such as pilau and dolma) are made of vegetables. Fresh fruit is served at every table in Azerbaijan and is also used for making fresh drinks.
She wants to expand her business and to improve her family's living conditions. As a result, she applied for a loan in the amount of 1,500 AZN to purchase new garden tools, seeds, and fertilizers. This would be her second loan and she has good record of repaying loans.
More information about this loan
This loan is designed for clients residing in settlements for Internally Displaced Persons (IDPs) in Bilasuvar, Azerbaijan. An internally displaced person (IDP) is someone who has been forced to flee his or her home due to armed conflict, violence, human rights violations, or natural or manmade disasters, but who, unlike a refugee, has not crossed an international border (source: UN Office for the Coordination of Humanitarian Affairs). Many of these people have failed to qualify for loans through formal channels due to low income and lack of collateral. By funding this loan, you are creating opportunities and supporting economic development in extremely underserved communities.
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.
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Success!! The loan was 100% repaid