Teymur H. is a 24-year-old man who lives in the small village of Saatli. He is married and has one son.
Teymur has bred calves since 2002. His father raised cattle and he conveyed the best of his experience to Teymur. Now, Teymur has good experience of his own in raising calves.
Teymur usually purchases small calves to raise and sell them for a profitable price to the local butchers and restaurants. He applied for 1,000 AZN loan to purchase three calves and fodder.
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.