Eldaniz M. is a 38-year-old man who is engaged in a trade business. He is a successful entrepreneur and has run his business for the last 10 years.
Eldaniz is married and has two sons. He sells different car tools and car spare parts. This is the only source of income for his family and he is doing his best to increase his income to improve the living conditions of his children. Eldaniz applied for a 1,000 AZN loan.
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.