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Khanlar R. is a 27-year-old farmer with two cows who sells dairy products to traders who, in turn, sell them in a nearby bazaar. He lives in the southern Azerbaijani region of Bilasuvar, where he relocated after fleeing Nagorniy Karabakh during Azerbaijani-Armenian conflict in 1993. He is married and has two children.

Khanlar has been selling dairy products, including milk, butter and yogurt, for five years. He started his business with money his parents saved for him. He began with one calf, which is now a full-grown cow. This cow has produced enough dairy products to allow him to buy a second cow. Khanlar would like to continue to expand his business because dairy products are in high demand all across Azerbaijan -- particularly in Baku, the capital, whose traders come Bilasuvar to purchase dairy products.

To meet his goal, Khanlar has come to us for a loan to buy one milk cow and two calves. He estimates that one cow will cost $700-800, and the calves will cost $200-250 each.

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
  • 36
    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 Khanlar to purchase one cow and two calves.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Oct 18, 2007
Oct 3, 2007
Currency Exchange Loss:
May 15, 2009