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Ramiz
Ramiz is 32 years old and the father of two sons. He is an IDP (internally displaced person) and lives with his wife and children in the Bilasuvar IDP Settlement. He is a Fuzuli refugee. His wife stays at home.

A few years ago, Ramiz decided to open his own business, selling basic grocery items needed in his neighborhood. Today, he is a person who enjoys his neighbors' and his family's respect.

He has been in this business for eight years. He sells food products in his shop, such as macaroni, rice, candies, cookies, sugar and beverages. His wife helps him in this business. His monthly profit is 300 AZN. As this is the main source of income, his profit is used for family needs. The profit he earns is not enough to reinvest in his business in order to meet customer demand, so he is suffering for this reason.

Ramiz would like to increase his sales and invest additional capital in the business. For this purpose, he applied for a 2,000 AZN loan. He will buy and diversify foodstuffs to sell at his store. This will be his third loan, and he has a good credit history.

Additional Information

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.

About Azerbaijan

  • $6,171
    Average annual income
  • 28
    View loans »
    Azerbaijan Loans Fundraising
  • $14,045,550
    Funds lent in using Kiva
  • 0.8
    Azerbaijan New Manats (AZN) = $1 USD
Expired
A loan of $2,550 helped Ramiz to buy more products for resale.
Repayment Term
20 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
May 16, 2013
Listed
May 28, 2013
Currency Exchange Loss:
Covered
Expired:
Jun 27, 2013