Ilqar I. is a lively entrepreneur with a small business selling clothes for women in the bazaar of Agsu city. He is an experienced entrepreneur having been self-employed for the past ten years. Business has been good for Ilqar. There is always demand for clothing and women of Azerbaijan are coming to Ilqar`s shop to purchase something new for wedding parties.
Ilqar is married and has two children. He is doing his best to ensure that his children have a bright future.
Ilqar has requested a loan of 1607 AZN to increase his available working capital. This loan will help him purchase new inventory and continue to invest in his business. Eventually, Ilqar hopes to have his own small store.
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.