Shahin H. is 36 years old, married, and has two children. Thanks to his efforts to get ahead and his positive attitude in the community he is now a well known and appreciated merchant. Previously Shahin was a farm hand, working in the fields for different people. Because of his hard work he was able to purchase land and cultivate vegetables such as potatoes, onions, carrots, etc. His wife sells his harvest at the market and his products have become very popular among buyers.
Now Shahin requests a loan to better serve his customers and to differentiate himself from the competition. He will use the loan to purchase seeds and fertilizer. He only wants to continue growing his business and to improve the quality of life for his family. His loan request is 1000 AZN. He is a repeat client for AqroInvest and has a very good client history.
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.