Shirmammad S. is a humble man who earns a living in the cattle-farming business. He is the father of six daughters, who motivate him to work harder every day to be able to meet their needs. As he is a very respectable man in the village he lives in, Shirmammad is responsible for providing all his daughters with a good dowry.
It is important to note that Shirmammad’s business requires a lot of physical work, mainly because he needs to transport the animals from one point to another, crossing long distances under the exposure of the sun. Shirmammad pastures his cattle without any help and continues to work hard. He has now come to AqroInvest to obtain the loan that will allow him to purchase young bulls to raise and sell in his area.
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.