Sheep are raised in order to be butchered, to obtain derived products and to be used for agricultural tasks. Seymur A. has been dedicated to sheep farming for eight years. He is married and the father of two children. He makes a great effort in order to meet the needs of the children in his charge and to bring sustenance to his humble home.
His greatest need now is to buy 10 sheep and fodder for expanding his business. For this reason, Seymur turned to AqroInvest Credit Union in order to obtain a loan of $1,200 that will allow him to purchase these animals and make his business better.
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.