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Farmayil
Fermayil is 53 years old and lives in the Baku region. He is married and has three children. His wife is a housewife. Fermayil’s older daughter is married. His son is studying his third course in college and his younger daughter is in seventh grade.

Fermayil rents a store and sells different toys, including cars, puzzles, and puppets. He loves little children and therefore loves his job. He wants to expand his lovely business and start selling children's clothes. Therefore, he is applying for a 2,000 AZN (Azerbaijani New Manat) loan from Komak. With this loan, he will purchase a variety of baby clothes.

Fermayil thanks Komak, Kiva, and Kiva lenders for their help. In the future, he wants to provide a better future for his children.

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.

Tags

About Azerbaijan

  • $10,800
    Average annual income
  • 17
    View loans »
    Azerbaijan Loans Fundraising
  • $14,249,400
    Funds lent in using Kiva
  • 0.8
    Azerbaijan New Manats (AZN) = $1 USD
Expired
A loan of $2,575 helped Farmayil to buy a variety of children's clothes to sell at his store.
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Nov 26, 2013
Listed
Dec 8, 2013
Currency Exchange Loss:
Covered
Expired:
Feb 6, 2014