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Rasad
Rasad is 34 years old, married and he has one daughter. His wife is a doctor. Rasad is a market vendor and sells seasonal fruits and vegetables in his place in a central bazaar and from his home. He has five years of experience in this field. He knows customers' needs and he has reliable providers.
He chose this business because it is profitable and brings a stable income. People use fresh vegetables everyday and consider them healthy, and many national dishes are made of vegetables, like pilau and dolma. Fresh fruits are served on every table of Azerbaijan's families and it also make fresh punch. His monthly income is 120 AZN. Now, Rasad wants to repair his market but he does not have enough funds for that.
This is the first loan he is receiving through Aqroinvest. He hadn't gotten other loans from state banks before, but Aqroinvest gave him a loan with better terms and a much lower interest rate.

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
  • 26
    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 Rasad to repair his fruit and vegetable market.
100% repaid
Repayment Term
19 months (Additional Information)
Repayment Schedule
Monthly
Disbursed:
Oct 23, 2013
Listed
Oct 10, 2013
Currency Exchange Loss:
Covered
Ended:
Apr 17, 2015