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Abulfaz
Abulfaz is a 53-year-old man, married and the father of 3 kids. He runs a café and serves people with lunch and dinner. He has eight years of experience. He decided to start his own business because his income as a foreman was not stable and was very low. Now he runs his business and serves people with daily meals in his café.

People in Azerbaijan like to have lunch in national style cafes and eat national food, as well as spend time with friends in the evening drinking tea with homemade jam. Abulfaz's place doesn’t look very attractive, but his food is delicious and that’s why his café is full of people. His older son helps him and cooks in his café.

His monthly income is 200 AZN and he would like to increase it. For this purpose he applied for a loan of 2000 AZN. He will use this loan to renovate his café. This will be his fifth loan and he has a good client 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 by a group of 32 Imishli farmers in 2001, and has grown to become one of the largest credit unions in Azerbaijan. It boasts a portfolio of nearly $5 million and is wholly owned by its more than 3,500 borrowers, as of December 2011.

You can join Aqroinvest's Kiva lending team, Aqroinvest Dostları (Friends of Aqroinvest), and become a fan of the organization on Facebook here.

Tags

About Azerbaijan

  • $6,171
    Average annual income
  • 39
    View loans »
    Azerbaijan Loans Fundraising
  • $13,960,650
    Funds lent in using Kiva
  • 0.8
    Azerbaijan New Manats (AZN) = $1 USD
Paying Back

This loan has been fully funded!

A loan of $2,550 helped Abulfaz to renovate his café.
88% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Sep 6, 2013
Listed
Sep 17, 2013
Currency Exchange Loss:
Covered