Marina M. is a hard-working widow who has one child. For the past two years, Marina has dedicated herself to selling different kinds of home products. She started her business when her husband passed away and she wasn’t able to feed her child. She likes what she sells and has developed a stable business. She makes about 250-300 AZN profit a month, but 30% of that goes to rent. Marina hopes that one day she will be able to build her own shop. Marina is now requesting a loan of 1000 AZN to help purchase new products to sell. This is important for her family's well-being.
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.