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

With shipment 12 for $0.00
Base price $588.00
Sales price $623.28
Tax amount $35.28

Your loan will go to Gasan Mammadli, a microentrepreneur endeavouring to increase his output and productivity. The loan will be used for the purchase of raw materials and provide the investor with a 6% return per annum. 

Key Information:

  • Direct loan to Gasan Mammadli, a local carpenter producing frames for chairs
  • Financing period is 12 months
  • Investment of $588USD with a 6% return per annum
  • Gasan has a small enterprise already running and is looking to increase his output
  • Your loan will go to stimulate the small enterprise of a local micro entrepreneur in Azerbaijan
  • Two people will act as guarantors to the loan


This loan will go straight towards Gasan, and not enter a funding pool used for other projects. Working together with our local MFI partner in Azerbaijan, we are happy to open up this channel to support micro enterprise in rural Azerbaijani communities.

Gasan Mammadli lives in the Bina Khojavar village in the Masalli region in Azerbaijan, around 250km from Baku. He is engaged in the production of semi-finished products, namely frames for chairs, which he sells to large furniture shops in the area. Gasan already has all necessary machines and conditions for his enterprise. He procures raw materials such as wooden boards, dries them himself in his furnaces and expertly makes the frames.



  • Gasan pays 240AZN for 1 cubic meter of wood (the raw material) from which he can produce 13 sets (6 chair frames in 1 set), meaning Gasan produces 78 frames from 1 cubic metre of wood
  • He runs his operation from his own yard, minimizing fixed overheads, and dries the raw materials in his furnace. Electricity consumption and miscellaneous small expenses equate to 13AZN per set
  • Therefore, Gasan’s costs are 409AZN (240 + 13*13). The price for 1 set varies from 42-46AZN, meaning he receives 572AZN from the sale of 13 sets (13*44). In this case Gasan takes away 163AZN from the operation (572-409)

If we assume Gasan can produce 2 cubic meters of raw material per month, he will earn 326AZN. After deducting 200AZN to cover expenses for living and his family, he can comfortably pay 126AZN per month to cover the loan repayment.

Thus issuing a loan of 1000AZN, equivalent to 588USD, for a period of 12 months with a 25% interest rate, Gasan will pay 95.04AZN back on a monthly basis which in principle is acceptable and comfortable for him. To minimise credit risk, 2 people will sign the relevant agreement as guarantors for the loan. The guarantors receive a monthly pension of 150 and 300AZN respectively, which will act as an additional guarantee for the loan granted to Gasan.


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Contacto - Comenzar IASI

Calle 870 Vista Bella, Morelia, Michoacán CP 58090 México  

RFC: CIA1012209K6  idCIF: 14100272763 


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Transferencias bancárias


Beneficiary Bank: AFIRME S.A.Juarez Sur 800 Piso 9, Colonia Centro C.P. 64000 Monterrey, Nuevo León, Mexico Swift AFIRMXMTXXX

Intermediary Bank: Deutsche Bank Trust  Company Americas  ABA: 021001033  SWIFT: BKTRUS33 Plaza: New York, USA.



Bank AFIRME S.A., Prados Carmelinas, Morelia Bank account number: 000189118724 Clabe: 062470001891187246



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