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Elgun

Update on Elgun

Elgun is a taxi driver. He is married, and he and his wife are expecting a child this year. Elgun and his family are IDP (Internally Displaced Persons) from the city of Fuzuli. They now live in Mahmudlu village in the Fuzuli District, near the war zone. Elgun previously took out a Kiva loan for taxi repairs, but unfortunately his car was wrecked in a crash a while ago. Elgun's father helped him to buy another car, but it is old and needs repairs. Elgun needs 1000 AZN (Azerbaijan New Manat) to repair the car so he can do more business. He is a hardworking man and hopes that business will improve once the repairs are made. Elgun is grateful to Komak, Kiva, and the lenders. In the future he wants to give his child a good education.
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Elgun is a taxi driver. He is married. His wife is a pregnant and in this year his child will be born. Elgun’s family is IDP (Internally Displaced Persons) from Fuzuli city and now live in Mahmudlu village of Fuzuli region where near war zone. Previously he took a loan from Kiva organization for repair his taxi. Unfortunately a while ago his car crashed and it was useless. Then Elgun’s father helps to buy another car, but that car is old. Today Elgun wants to repair his car and increase the business. Therefore he needs 1000 AZN(Azerbaijan New Manat). He is so hardworking man and he hope that after repair he will be work hard and his business will be better. Elgun thankful to Komak company, Kiva organizations and lenders for the loan. He wants to give a good education to his child in the future.

Previous Loan Details

This young man is not married and does not have children. He lives in the Fuzuli region together with his mother. Elgun's mother has a cardiovascular disease. Elgun tries to work hard and earn money so that he could help pay for his mother's medical treatment. He currently needs 1600 AZN to r... More from Elgun's previous loan »

Additional Information

More information about this loan

This loan supports Komak clients who are designated as Internally Displaced Persons (IDPs) in 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. Azerbaijan is home to over 600,000 IDPs, who face limited access to employment adequate housing, water and electricity. Many of these people have also failed to qualify for loans through formal channels due to low income and lack of collateral. Komak has been working to support IDPs since 1999. By funding this loan, you are creating opportunities in extremely underserved communities.

About Komak

Komak means “help” in Azerbaijani. As of its creation in 1999, Komak has kept true to its name by helping thousands of Internally Displaced Persons, refugees and the economically disadvantaged by providing these groups with sustainable credit services. As of 2010 Komak’s $2.5 million portfolio serves 1513 clients, 81% of whom are IDPs, and 40% of borrowers are women. In 2009, Komak was cited in a report by the United Nations General Assembly as one of Azerbaijan's prominent forces in restoring the local economy by enabling small and medium enterprises with credit. For more on Komak, please join our lending team, Friends of Komak Credit Union.

Concurrent and Successive Loans

Our Field Partners often work with borrowers over a series of loans as the borrowers build credit, take out bigger loans, and expand their businesses. In order to make it easier for our Field Partners to post loans for borrowers who have been listed on Kiva before, we allow them to post successive and concurrent loans for their Kiva borrowers. This means that our Field Partners are able to post a borrower's second, third, etc., loan on Kiva without having to re-enter all of the borrower's information.

This borrower has been listed on Kiva before, so you'll see an updated loan description, as well as excerpts of the original descriptions from earlier loans. Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Field Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These "add-on" loans are typically smaller than the borrower's primary loan and serve a different purpose. Because Field Partners can now post loans as successive and concurrent loans, you will be able to track borrower progress over time and see the various ways a borrower is working with our Field Partners through funds from Kiva’s lenders.

Tags

About Azerbaijan

  • $6,171
    Average annual income
  • 14
    View loans »
    Azerbaijan Loans Fundraising
  • $14,200,075
    Funds lent in using Kiva
  • 0.8
    Azerbaijan New Manats (AZN) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,275 helped Elgun to repair his taxi.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Nov 14, 2013
Listed
Dec 4, 2013
Currency Exchange Loss:
Covered
Ended:
Dec 17, 2014