Qaranfil Q. is a 30-year-old woman who keeps cows for milk and calves for meat production. She has six years of experience in this field. She is a school teacher in the local school and is married with two children.
Qaranfil started her business when her and her husband’s salary wasn’t enough to cover their children’s basic needs. Now she would like to expand her business and for this purpose she applied for a $1,500 loan to purchase three more calves for breeding. As summer is a high season for wedding parties she counts on selling fattened calves for higher prices. Qaranfil and her family are counting on you for help.
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.