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Rafayel
Rafayel is 54 years old, married and has three children. He has been breeding cattle and sheep for the last 10 years. During these years he gained necessary skills and knowledge for effective management of his business.
He usually buys small calves, raises and fattens them for five to six months and then resells them for a profit at the livestock bazaar. His monthly income is 250 AZN and this business is the only source of income for his family. Beef is in very high demand in Azerbaijan and people use it in everyday dishes like pilau and dolma. He also sells fur because local people make blankets from it.

Now Rafayel would like to buy more animals and for this purpose he applied for a loan of 1500 AZN. He will buy two cattle and six sheep. This will be his second loan with AqroInvest and he has a positive client history.

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
  • 17
    View loans »
    Azerbaijan Loans Fundraising
  • $14,249,400
    Funds lent in using Kiva
  • 0.8
    Azerbaijan New Manats (AZN) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,925 helped Rafayel to buy two cattle and six sheep.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Dec 20, 2012
Listed
Jan 10, 2013
Currency Exchange Loss:
Covered
Ended:
Jun 17, 2014