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Farid
Farid is a 27-year-old, single client, and lives with his parents. Farid grows fruits and vegetables in his garden, and has been doing this for the last four years. He is a very experienced farmer and has a deep knowledge of the land and how to work it.

Farid usually grows seasonal fruits and vegetables, and sells them for a profitable price in the central bazaar. Fresh fruits and vegetables are very popular and in high demand because people like to eat them every day and consider them very healthy. His monthly income from this business is 120 AZN. This is the only source of income for his family.

Now, he would like to invest more capital in his business and purchase seeds and fertilizers. For this purpose, he has applied for a loan of 600 AZN. He hopes this loan will improve life for his family. This is going to be his second loan and he has a good client history.

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 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.

Tags

About Azerbaijan

  • $6,171
    Average annual income
  • 12
    View loans »
    Azerbaijan Loans Fundraising
  • $13,942,725
    Funds lent in using Kiva
  • 0.8
    Azerbaijan New Manats (AZN) = $1 USD

Success!! The loan was 100% repaid

A loan of $775 helped Farid to purchase seeds and fertilizers.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Dec 18, 2013
Listed
Dec 23, 2013
Currency Exchange Loss:
Covered
Ended:
Sep 17, 2014