This is Ibe's first loan from Kiva. He started his business of selling fruits and vegetables nine months ago. Now he needs a 2,000 AZN (Azerbaijan New Manat) loan to buy potatoes, cucumbers, and onions to sell at the local bazaars. He wants to use the money he earns from his new business to help his family.
In the future, Ibe wants to have his own store in the bazaar and buy a car to transport the vegetables and fruits. These changes will make his business more profitable.
Additionally, Ibe and his wife are having fertility problems. Ibe wants to take his wife to the doctor to treat this issue because he really wants to have children. He is thankful to Komak and Kiva for supporting him.
More information about this loan
This loan supports Komak clients who are designated as Internally Displaced Persons (IDPs) in 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. Azerbaijan is home to over 600,000 IDPs, who face limited access to employment adequate housing, water and electricity. Many of these people have also failed to qualify for loans through formal channels due to low income and lack of collateral. Komak has been working to support IDPs since 1999. By funding this loan, you are creating opportunities in extremely underserved communities.
About KomakKomak means “help” in Azerbaijani. As of its creation in 1999, Komak has kept true to its name by helping thousands of Internally Displaced Persons, refugees and the economically disadvantaged by providing these groups with sustainable credit services. As of 2010 Komak’s $2.5 million portfolio serves 1513 clients, 81% of whom are IDPs, and 40% of borrowers are women. In 2009, Komak was cited in a report by the United Nations General Assembly as one of Azerbaijan's prominent forces in restoring the local economy by enabling small and medium enterprises with credit. For more on Komak, please join our lending team, Friends of Komak Credit Union.
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