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Kifayat

Update on Kifayat

Kifayat is an IDP (internally displaced person) from the Kalbadjar region. Now she lives in the Absheron region with her family. Kifayat is 56 years old, married, and has 6 children. Three of them are married, and the other three go to university. Kifayat started her food product sales business a year ago. Now Kifayat needs a loan of 2,300 AZN to buy household product. In a future she wants to use the profit to pay for her children's education. In the future, Kifayat wants to have a better place for food production sales too. This will be more profitable for her business. Kifayat is thankful to Komak and Kiva for supporting her again.

Previous Loan Details

Kifayat is applying to Kiva for a second loan. She needs a loan of 2000 AZN to buy the spare parts for her husband's car. Her husband transports goods to markets. Her husband appears in the photograph. "Thank you very much for the help." More from Kifayat'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

  • $10,800
    Average annual income
  • 21
    View loans »
    Azerbaijan Loans Fundraising
  • $14,255,775
    Funds lent in using Kiva
  • 0.8
    Azerbaijan New Manats (AZN) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,950 helped Kifayat to buy food products.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jun 19, 2013
Listed
Aug 5, 2013
Currency Exchange Loss:
Covered
Ended:
Jul 17, 2014