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Elchin
Elchin is 37 years old, married and has three daughters. He is an IDP (internally displaced person) and lives with his wife and children in the Bilasuvar IDP Settlement. He is a Jabrayili refugee. Elchin has been breeding cattle for the last seven years. After several attempts to find a job, he gave up and decided to start his business. With the help of his wife, they purchased their first cattle.

Elchin usually buys small calves, raises and fattens them for five or six months and then sells them for a more profitable price in the livestock bazaar. His monthly income is 140 AZN and this business is only one source of financial income in his family. Beef is in very high demand in Azerbaijan and people use it in everyday dishes like pilau and dolma. Elchin also keeps milker cows for personal use and for selling to neighbors.

He has already taken four loans from Aqroinvest in the past. With a good loan history, he has applied for his fifth loan of 2000 AZN to purchase two cattle and one milker cow. With this money he wants to expand his business and improve the living conditions of his family.

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.

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About Azerbaijan

  • $6,171
    Average annual income
  • 22
    View loans »
    Azerbaijan Loans Fundraising
  • $14,050,875
    Funds lent in using Kiva
  • 0.8
    Azerbaijan New Manats (AZN) = $1 USD
Expired
A loan of $2,550 helped Elchin to buy two cattle and one milker cow.
Repayment Term
17 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jun 18, 2013
Listed
Jul 5, 2013
Currency Exchange Loss:
Covered
Expired:
Aug 4, 2013