Saleh A. is a 43-year-old entrepreneur who sells spare parts in his own spare parts shop. He is married and has 2 children, who are the apple of his eye. He started his business in 1998, when he couldn’t find a job in his city. He borrowed money from his friends, and with starting capital of $100 he began selling car headlights. He says that his main goal is to save enough money to build his own store, so he doesn't need to spent money on rent. He wishes to provide his children with the best education, and for this purpose he applied for a 1,600 AZN loan. This loan will help him to improve his living conditions and save money for his children’s future education.
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.