Fuad N. is a hard-working man who sells a variety of fruits and vegetables in the central market of Saatli. He considers himself happy and humble. He started his business in 2003 with savings he had accumulated over a long period of time. He wants to provide an education for his 2 young children.
Fuad's biggest dream is to prepare his children for professional careers so they don't have to suffer through hard labor, like he did when he was young. To realize this goal, Fuad is requesting a loan of $1200 US to buy more goods so he can increase his earnings.
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.