He was unemployed for several years, so to improve his situation, he started a farming business 12 years ago. Now this is the main source of income for his family.
Raising and selling fresh fruits and vegetables brings a stable income and is in high demand among the Azerbaijani people. Fresh vegetables are good for national dishes like pilau and dolma. Fresh fruits are favorites for punch. Farac usually sells his crops in the central bazaar, and his profit per month is AZN 180.
Farac decided to expand his business. For this purpose, he has applied for a AZN 2,000 loan. He will buy seeds and fertilizer to increase his crops and cover his customers' demand.
This is Farac's fourth loan, and he has a good client history.
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 AqroinvestAqroinvest 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.
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