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Arif

Update on Arif

Arif is 56 years old, married, and has two children. He is an IDP (internally displaced person) from Fuzuli city. Now Arif lives in the Fuzuli region with his family. His wife stays at home, so he is the only one earning an income. His son goes to school and is 16 years old. His daughter goes to university and is 19 years old. Arif wants his son to become a sportsman. Arif started his business five years ago to grow and resell calves. Now he needs a loan of 2,000 AZN to repair his farm. He wants to use the money for the future of his child. In the future, Arif wants to have a big farm for sheep and calves. This will be more profitable for his business. This is Arif's third loan. Arif is thankful to Komak and Kiva for supporting him again.

Previous Loan Details

Arif K. is 53 years old. He is married, with two children: a 20-year old daughter who is a university student and a 19-year old son, also a university student, who helps his father with the work. Arif is an Internally Displaced Person; he is a refugee from the Fuzuli Region and now lives in the v... More from Arif's previous loan »

Additional Information

More information about this loan

This loan supports Komak clients who are designated as Internally Displaced Persons (IDPs) in 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. Azerbaijan is home to over 600,000 IDPs, who face limited access to employment adequate housing, water and electricity. Many of these people have also failed to qualify for loans through formal channels due to low income and lack of collateral. Komak has been working to support IDPs since 1999. By funding this loan, you are creating opportunities in extremely underserved communities.

About Komak

Komak means “help” in Azerbaijani. As of its creation in 1999, Komak has kept true to its name by helping thousands of Internally Displaced Persons, refugees and the economically disadvantaged by providing these groups with sustainable credit services. As of 2010 Komak’s $2.5 million portfolio serves 1513 clients, 81% of whom are IDPs, and 40% of borrowers are women. In 2009, Komak was cited in a report by the United Nations General Assembly as one of Azerbaijan's prominent forces in restoring the local economy by enabling small and medium enterprises with credit. For more on Komak, please join our lending team, Friends of Komak Credit Union.

Concurrent and Successive Loans

Our Field Partners often work with borrowers over a series of loans as the borrowers build credit, take out bigger loans, and expand their businesses. In order to make it easier for our Field Partners to post loans for borrowers who have been listed on Kiva before, we allow them to post successive and concurrent loans for their Kiva borrowers. This means that our Field Partners are able to post a borrower's second, third, etc., loan on Kiva without having to re-enter all of the borrower's information.

This borrower has been listed on Kiva before, so you'll see an updated loan description, as well as excerpts of the original descriptions from earlier loans. Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Field Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These "add-on" loans are typically smaller than the borrower's primary loan and serve a different purpose. Because Field Partners can now post loans as successive and concurrent loans, you will be able to track borrower progress over time and see the various ways a borrower is working with our Field Partners through funds from Kiva’s lenders.

Tags

About Azerbaijan

  • $6,171
    Average annual income
  • 46
    View loans »
    Azerbaijan Loans Fundraising
  • $14,162,625
    Funds lent in using Kiva
  • 0.8
    Azerbaijan New Manats (AZN) = $1 USD
Expired
A loan of $2,550 helped Arif to repair his farm.
Repayment Term
14 months (Additional Information)
Repayment Schedule
Irregularly
Pre-Disbursed:
Jun 20, 2013
Listed
Jul 4, 2013
Currency Exchange Loss:
Covered
Expired:
Aug 3, 2013