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Elman
Elman is a 26-year-old married man with one son. Elman is an IDP person (internally displaced person) and lives with his family in the Bilasuvar IDP Settlement. He is a Fuzulu refugee. He is a very successful entrepreneur who sells chicken and duck, which brings him a stable income. Elman is a very hardworking man. For the past three years, he has been raising chickens and ducks and is very active in poultry. He usually buys small ducks, raises and fattens them for five to six months, and then sells them for a more profitable price in the livestock bazaar. His father helps him in this business because it is the only income for their family. From this business, Elman's monthly income is 120 AZN. He has applied for his first loan of 1,800 AZN. With this money, he wants to invest in the business and buy more small chickens in order to generate more revenue

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
Paying Back

This loan has been fully funded!

A loan of $2,300 helped Elman to buy more small chickens.
87% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Oct 24, 2013
Listed
Nov 6, 2013
Currency Exchange Loss:
Covered