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Mikayil
Mikayil is a 53-year-old refugee. He is married and has three sons. His wife is a housekeeper and the family lives in an IDP settlement. He has a small livestock business and he also earns money raising and selling hay to other farmers. He has been working in this field for 28 years and has good skills. His monthly income is AZN 210.

Hay is one of the most important parts of farming. People buy good-quality hay in order to keep high productivity of their cattle. Hay is used for livestock in case the climatic conditions do not allow the use of year-round, fresh fodder. Mikayil supplies good hay for many farms and people know him very well.

Mikayil needs to repair his farm in order to keep it in good condition for his cattles' productivity. He applied for an AZN 1,200 loan in order to buy good fertilizer and additional livestock, to increase his income. This is Mikayil's second loan and he has a positive 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 in 2001 by a group of 32 farmers from Imishli. It has since grown to become the largest credit union in Azerbaijan, owned by its more than 5,400 borrowers and boasting a portfolio of nearly US$12 million.
AqroInvest is focused on providing loans to the following groups of people: rural farmers, people living in distant southern villages with little or no access to finance and internally displaced people and refugees, many of whom lost their homes and livelihoods during the violent conflicts in the 1990s.

In May 2011, Aqroinvest started a new project with Kiva proving higher education loans to students. The project gives students the support and financing they need to continue their education and helps pay for tuition fees at various universities in Azerbaijan. Aqroinvest is the first credit union in the country to offer students loans.

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About Azerbaijan

  • $6,171
    Average annual income
  • 20
    View loans »
    Azerbaijan Loans Fundraising
  • $14,215,400
    Funds lent in using Kiva
  • 0.8
    Azerbaijan New Manats (AZN) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $1,550 helped Mikayil to buy good fertilizer and additional livestock.
68% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Apr 28, 2014
Listed
May 5, 2014
Currency Exchange Loss:
Possible