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Ilqar A. rents a little store where he sells foodstuffs. He buys his goods in a city which is one hour away from his home village. He goes for goods every week. His family members help him at the store. His wife doesn’t have another job but helps her husband in his business. His products are popular in his town for being cheap and fresh. That’s why he has many regular customers.

Ilqar has a wish to build his own store but needs a lot of money for that. So he wants to borrow money and use it in his business to make more profit. He will start saving money from his profits for a store and hopes that soon he will be able to start building a store of his own.

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
  • 23
    View loans »
    Azerbaijan Loans Fundraising
  • $14,289,125
    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 Ilqar purchase more foodstuffs for his little store.
100% repaid
Repayment Term
17 months (Additional Information)
Repayment Schedule
Feb 25, 2009
Jan 18, 2009
Currency Exchange Loss:
Jul 1, 2010