Rakhman H. is a 41-year-old married man who raises sheep. He is a hardworking man who has fought to provide for his family and to educate his three children. Rakhman has been running a business raising and selling sheep. He has 20 years of experience in this field. Since sheep raising and selling is a profitable business, Rakhman has become a very successful businessman in a very short period. He works very hard and spends all of his time with his animals, cleaning them, feeding them, and pasturing them. Now, Rakhman wants to expand his business and to buy more sheep. He has applied for a loan of 1606 AZN. Rakhman thanks all lenders for their support.
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.