Ilyas N. is 45 years old. He is married and has three children. For the last four years Ilyas has been working as a market vendor. He sells food products which are always in demand among the population. His monthly income is about 500 Azerbaijani manat (AZN).
The love for his child is the biggest reason for Ilyas to make an effort to provide what his family needs. Ilyas is planning to enlarge the range of his goods and is requesting 1000 AZN to do so.
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.