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Elsavar I., a 30-year-old trader who is married and has two sons, started his business in 2006 and has already become a successful entrepreneur. Operating his store in an Internally Displaced People Settlement, he has gained much respect from the many people he respectfully serves every day. Elsavar sells a variety of goods including diapers, tooth paste, napkins, light bulbs, and macaroni. As well, he works at night as a security guard at the local factory, earning about $90 per month, an amount insufficient to meet basic family expenses.

Because the goods he sells are in high demand, he is requesting a loan of $1200 to purchase additional inventory. Elsavar and his family thank everyone for their help.

Additional Information

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.

About Azerbaijan

  • $10,800
    Average annual income
  • 84
    View loans »
    Azerbaijan Loans Fundraising
  • $14,526,825
    Funds lent in using Kiva
  • 0.8
    Azerbaijan New Manats (AZN) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,200 helped Elsavar to purchase more inventory.
100% repaid
Repayment Term
17 months (Additional Information)
Repayment Schedule
Jan 27, 2009
Dec 4, 2008
Currency Exchange Loss:
Jun 24, 2010