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MFI CIA - Azerbaijan - 6% p.a. loan

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With shipment 12 for $0.00
Loan amount: $588.00
Amount to be repaid: $623.28
Interest: $35.28
Description

Your loan will go to Kamal Mikaylov, a rural Azerbaijani farmer who will use the money to purchase a cow. This loan will provide the investor with a 6% return per annum

Key Information:

 

Working in tandem with our local MFI partner in Azerbaijan, this is a way in which rural farmers such as Kamal in the outskirts of Azerbaijan can stimulate their small enterprises and earn more money.


Kamal N. Mikaylov lives in a village called Arkivan in the Massali region of Azerbaijan, around 250km from Baku. His main source of income is farming and selling milk. Kamal is retired and has a pension of 170AZN and has already borrowed money from our partner MFI in Azerbaijan, with satisfactory repayment. Kamal has 3 cows and 2 calves and after his own usage, he sells milk to make a profit.

 

Metrics:

 

Therefore with a loan amount of 588USD for 12 months and an application of 25% interest ($500*1.7). Kamal will comfortably be able to repay a monthly amount of 57.14AZN (roughly $34USD). If Kamal can bring in revenue from the sale of milk for 300 days for example, there will be a ‘down-time’ in which the loan will still need repaying. The assurance here is that Kamal’s debt will be secured by two guarantors who have a monthly income of 124AZN and 160AZN respectively, both of whom will sign contracts. If the guarantors need to aid Kamal in repayment, the amount for each of the will be 29AZN.

 

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