Mirdamat Z. is 58 years old. He is married with four children. He owns a grocery store where he sells a variety of products like macaroni, cookies, soft drinks, juices, tea, and detergents. He started this business 12 years ago with a small inventory. Over time, he expanded his business and it has become very successful.
Today, Mirdamat is requesting a loan of $1200 US to increase his stock. He is ready to work even harder, make sacrifices, and push every once in a while to achieve his goal of becoming a successful entrepreneur. One of his dreams is that his children progress by means of their studies, which he does his best to provide for. We believe his perseverance and clear vision are key factors to the success of his small business.
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.