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Sirac
Sirac is a farmer with 17 years of experience. He is engaged in farming and animal husbandry. His family's only income is from the sale of dairy products and greens. Now he is 27 years old, married and father of two kids.

Sirac is an internally displaced person (IDP), and lives with his family in the Bilasuvar IDP Settlement.

He buys animals (baby cows) at low prices, raises them, and then sells them in the market at higher prices. He has a good approach towards business expansion and savings for the future. He makes enough through his business to contribute to the family income, but he needs to improve his business to meet the needs of his children.

For the improvement of his business, he applied for a loan of 1,800 AZN to purchase two more cows. He is very experienced and has good contacts in the market. With this loan, he will definitely expand his business and income level.

This is his fourth loan, and he has a good loan 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.

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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

Success!! The loan was 100% repaid

A loan of $2,300 helped Sirac to purchase two more cows.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Aug 5, 2013
Listed
Aug 20, 2013
Currency Exchange Loss:
Covered
Ended:
Feb 20, 2015