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Humbat
Humbat is a 53 year old man who lives in IDP Settlement with his wife and four children. He is a farmer and raises crops. He has 18 years of experience in this field. His son helps him to run the business. Humbat has permanent customers for selling crops to, and his monthly income is 100 AZN.

The IDP Settlement where Humbat lives is newly built by the government, and is located in the southern part of Azerbaijan where there are very rigorous climate conditions. In summer, the temperature reaches 105 degrees Fahrenheit. The main problem in the region is water for irrigation and for animals.

Humbat is not able to a build a water channel for his garden alone. This is quite an expensive process which requires a labor force and special equipment. He was extremely excited about water loans provided by AqroInvest, and applied for a 2000 AZN loan. He will use this loan to pay for special equipment, like a tractor, for making a water channel and to pay for workers who will dig the land.

Additional Information

More information about this loan

This loan will help fund AqroInvest's new loan product that supports clients who need to set up proper soil irrigation systems for their agricultural activities. It will also provide financing opportunities to dig wells to expand access to clean water for human and livestock consumption.

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
  • 39
    View loans »
    Azerbaijan Loans Fundraising
  • $13,960,650
    Funds lent in using Kiva
  • 0.8
    Azerbaijan New Manats (AZN) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,550 helped Humbat to pay for special equipment to dig a channel and to hire laborers.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Oct 4, 2012
Listed
Oct 19, 2012
Currency Exchange Loss:
Covered
Ended:
Nov 17, 2014