Habil Q. is a 36-year-old trader who sells mobile phones in the city center of Lankaran. He has 8 years of experience in this field and, during these hard years, he built his own store. He has two sons, of whom is he very proud because they are studying in high school and are very smart guys. He believes that they could be scientists one day.
Habil applied for a loan of 1600 AZN to a open new store in the other part of city.
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.