Agaqadir M. is a 48-year-old man who sells honey in the small village of Agsu. He started his business when he was 20, continuing his family business. It is very hard and dangerous work but Agaqadir adores his bees and his job in general.
As it is the only one source of income for his family, Agaqadir makes the best honey in his village. He is married and has three sons and dreams to provide his all sons with higher education. Agaqadir has a good income from honey sales because this product is very popular among Azerbaijani people.
Agaqadir applied for a $1500 loan in order to improve his bee keeping conditions and purchase new beehives.
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.