His father has been sick for a long year. His mother is a housewife and his sister is a seller at a local market. Elchin provides all of the needs of the family, so he rents a salon and for 8 years he has been in the barbering business.
Today Elchin wants to increase his business and monthly income, therefore he needs a loan amount of 1,800 AZN (Azerbaijan new manat). With this loan, Elchin wants to repair a door and the windows of his salon. He says he is thankful to the Kiva organization and lenders for their help.
In the future, Elchin wants to buy this salon and will increase his monthly income. For his personal life, he wants to get married and to be the father of three children.
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 KomakKomak 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.
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