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Zamik is a 32 year-old man. He is married and has two sons. He is a market vendor and sells seasonal fruits and vegetables in his place in a central bazaar and from his home. With the help of Aqroinvest Credit Union, Zamik was able to start his own business. He has eight years of experience. The reason he started his business was due to his poor living conditions and small pension.

Fruits are very popular among the Azerbaijan people and are in high demand during the year. People like to eat them fresh, and this is one of the main desserts for guests. His shop is located in the center bazaar, and people always pass his shop and buy some fresh fruits. His monthly income from this business is 190 AZN. Zamik 's wife helps him to sell fruits.

Zamik wants to expand his business. The amount of products he sells is not enough to cover the high demand. He would like to purchase more fruits and vegetables to increase his turnover as well as improve the living conditions of his family. For this purpose, he has applied for a 1,800 AZN loan. This will be his second loan, and Zamik 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.


About Azerbaijan

  • $10,800
    Average annual income
  • 31
    View loans »
    Azerbaijan Loans Fundraising
  • $14,344,150
    Funds lent in using Kiva
  • 0.8
    Azerbaijan New Manats (AZN) = $1 USD
A loan of $2,300 helped Zamik to purchase more fruits and vegetables.
Repayment Term
20 months (Additional Information)
Repayment Schedule
Sep 4, 2013
Sep 20, 2013
Currency Exchange Loss:
Oct 20, 2013