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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 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.

Tags

About Azerbaijan

  • $10,800
    Average annual income
  • 27
    View loans »
    Azerbaijan Loans Fundraising
  • $14,289,125
    Funds lent in using Kiva
  • 0.8
    Azerbaijan New Manats (AZN) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,550 helped Abulfaz to renovate his café.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Sep 6, 2013
Listed
Sep 17, 2013
Currency Exchange Loss:
Covered
Ended:
Mar 17, 2015