Shafiga M. sells detergent, shampoos, washing powders, toothpastes and other products in her grocery. She is 43 years old, married and has four children. Shafiga has been running the grocery store for the past five years. The inventory she has for sale is of very good quality and selection. Shafiga is respectful and patient with all of her customers, which attracts people and brings them back to her store to buy detergents again. Shafiga is trying to sustain her business and has requested a loan of 1607 AZN to increase the amount of inventory that she has for sale. We believe this current loan will enhance the potential of her business and help Shafiga reach all of her aspirations.
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.