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Zefer Q. is 28-year-old retailer who runs a small cosmetics and perfume store in Qizilkend village near Imishli town, which is situated in the southern part of Azerbaijan. Zefer opened his store in 2003, when he was only 24. He recently got married and has 1 child. Summer temperatures in Imishli reach a sweltering 50C so people do not stay long when they come into the store.

Zefer has applied for a loan of US$1200 to purchase and install a new air conditioner and give his customers a chance to enjoy a cool comfortable search for the items they want to purchase. Zefer notes, "Most of the customers who come into my store are women. They like to spend a lot of time searching for cosmetics or perfume and I want to create a comfortable place for them, even in sumertime."

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
  • 37
    View loans »
    Azerbaijan Loans Fundraising
  • $14,668,525
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $1,200 helped Zefer purchase air conditioner for his shop.
100% repaid
Repayment Term
17 months (Additional Information)
Repayment Schedule
Sep 18, 2007
Aug 28, 2007
Currency Exchange Loss:
Jan 15, 2009