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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 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
  • 21
    View loans »
    Azerbaijan Loans Fundraising
  • $14,255,775
    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