Qalib R. is married and has one son who is the meaning of his life. Qalib is honest, hard-working, very creative and full of new ideas. He was always dreaming about starting his own business in a trade. However, he didn’t have sufficient capital and he realized he had to provide for his family and cover household expenses. That is why he opened a grocery store.
Qalib is requesting a loan to increase the range of his goods. This loan will give him a chance to buy a larger assortment of goods such as sugar, flour, vegetable oil, cereals, and many others. He believes the loan will boost his economic activity and help him generate more profits. It will not only help him grow his business but also give his family a better quality of life.
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.