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Sharafaddin
Sharafaddin is a 60-year-old married father of 5 kids. His wife is a housewife. He is a popular merchant in his hometown, because his shop is situated in the center of town. It has already been 20 years since he started selling food products. His profit from this business is about 150 AZN a month. He sells food products such as macaroni, rice, candies, cookies, sugar, and beverages in his shop. His son also helps him with this business.

The profit he gains is not enough to reinvest into his business to cover his customers` demands. For this reason he is suffering. His shop is the family's main source of income, and his profit is used for their needs. Sharafaddin would like to increase his sales and invest additional capital. He applied for a 1,800 AZN loan for this purpose. He will purchase additional food products and diversify. This will be his 6th loan and he has a good credit 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
  • 20
    View loans »
    Azerbaijan Loans Fundraising
  • $13,995,725
    Funds lent in using Kiva
  • 0.8
    Azerbaijan New Manats (AZN) = $1 USD
Expired
A loan of $2,300 helped Sharafaddin to increase his sales and invest additional capital into his shop.
Repayment Term
20 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Sep 6, 2013
Listed
Sep 15, 2013
Currency Exchange Loss:
Covered
Expired:
Oct 15, 2013