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Orxan
Orxan is 31 years of age, married and he has 2 kids. He is a very well known barber. He established his business in 2001, and through practice, he mastered this field. He is his family’s sole breadwinner. He is responsible for the living expenses of three members of his family. For this reason, he works hard and puts substantial effort into continuing to improve his business.

In April 2012, he opened his current shop and is working hard to develop it. Because his income is low compared to his high expenses, Orxan can’t save enough cash to improve and develop his business. For this reason, he is acquiring a loan of AZN 1,300 from Kiva's partner Aqroinvest to increase his business capital with special gels, beauty supplies and the necessary tools for developing his business.

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.

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About Azerbaijan

  • $6,171
    Average annual income
  • 14
    View loans »
    Azerbaijan Loans Fundraising
  • $14,211,075
    Funds lent in using Kiva
  • 0.8
    Azerbaijan New Manats (AZN) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,675 helped Orxan to increase his business capital with special gels and beauty supplies.
100% repaid
Repayment Term
17 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Oct 18, 2013
Listed
Nov 9, 2013
Currency Exchange Loss:
Covered
Ended:
Oct 17, 2014