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Tofiq Z. is 54-year-old man who likes to make his own way. He runs a clothing business, which is how he supports his family, including his wife and seven children. Little by little and with hard work during more than 20 years, his business has expanded. Still, Tofiq wants his business to grow even more.

For this reason he is requesting a loan of 1200 USD, which he will pay back in 15 months. With the money, Tofiq will buy more merchandise. This way he will have new products to offer to his customers. With your help, Tofiq will be able to establish himself, save money, expand his business, and support his family. Tofiq has a good loan history; he has received one previous loan from Kiva, which he successfully completed.

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
  • 51
    View loans »
    Azerbaijan Loans Fundraising
  • $14,698,475
    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 Tofiq to purchase seasonal clothes.
100% repaid
Repayment Term
17 months (Additional Information)
Repayment Schedule
Apr 27, 2009
Mar 18, 2009
Currency Exchange Loss:
Aug 24, 2010