Maqsud S. is 42 years old and lives with his wife and four children, to whom he is a devoted father. He makes the most of every opportunity, such as when he started selling beverages and other food products in his wholesale store. He gives his business constant attention all day long every day, and due to this he has attracted customers. His income enables him to contribute to his home finances. He is motivated by his work by the need to support the family finances and take care of his children's school education. Maqsud is requesting a loan with which he will invest in merchandise for his shop. He wishes to stock it with more products and offer the best products every day.
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.