Seyidhuseyn J., age 52, is a sheep breeder and the responsible father of four children. He has always contributed to his family’s financial security by caring for his animals on a daily basis. He clearly remembers the time when he decided to become and independent businessman with a small number of animals and a small patch of land.
Seyidhuseyn has more than fifteen years of experience. Sheep-breeding is the main source of income for his family and generates the income that enables him to support his family and improve their living conditions.
Seyidhuseyn has applied for a loan of 1600 AZN to purchase 16 sheep.
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.