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Rafiq A. is a 42 year old trader who keeps a general store in Bilasuvar Internally Displaced People Settlement. He has sold food and bath equipment such as shampoo, soap and powder since 2000. He is married and has three daughters. His shop is very popular among local people because he is very polite to everyone – that’s why all goods in his shop sell out more quickly than new goods coming in. To improve the situation, Rafiq needs to expand the number of goods he sells and purchase more equipment. For this purpose he applied for $800 USD.

Additional Information

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.

About Azerbaijan

  • $10,800
    Average annual income
  • 31
    View loans »
    Azerbaijan Loans Fundraising
  • $14,344,150
    Funds lent in using Kiva
  • 0.8
    Azerbaijan New Manats (AZN) = $1 USD

Success!! The loan was 100% repaid

A loan of $800 helped Rafiq rafiq would like to expand the number of goods he sells at his general store.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Jul 22, 2008
Jun 12, 2008
Currency Exchange Loss:
Feb 15, 2010