Tayyar Q., 54, is married and has four children. He lives in Imishli city and works with his family in the agricultural industry and at his petrol station business. Many years ago he decided to cultivate his land to generate more income to support his family. Now he applied for a 800 AZN loan to purchase seeds, fertilizer and one calf.
Tayyar enjoys doing this job and his monthly income is about 300-500 AZN,
With his last loan, Tayyar improved his petrol station, which he already successfully repaid.
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.