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Arif

Update on Arif

Arif is 44 years old, married, and has three children. All of his children are going to school. His family is an IDP - Internally Displaced Person from Khojaly city and now is living at Abseron region. Arif has a small store and in this store he sells different shoes to customers. Arif has been in this business for three years. Today he needs a loan and has applied for an amount of 2,000 AZN to buy shoes for the new spring season. It's his second loan; previously he took a loan from the Kiva organization and successfully paid it off. Arif says he is thankful to the Kiva organization and lenders for the help.

Previous Loan Details

Arif was born in 1969. He is an Internally Displaced Person (IDP) from the Armenian-occupied territory of the Azerbaijan Khodjali region, and is now settled in Baku city. He is married and has three children. Six years ago he decided to start a business selling juices. Now he needs a loan of 1300... More from Arif'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
  • 23
    View loans »
    Azerbaijan Loans Fundraising
  • $14,078,500
    Funds lent in using Kiva
  • 0.8
    Azerbaijan New Manats (AZN) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $2,550 helped Arif to buy shoes for the new spring season.
98% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Feb 4, 2014
Listed
Feb 24, 2014
Currency Exchange Loss:
Possible
Ended:
Mar 17, 2015