Ilham is a farmer who owns a small herd of sheep and sells sheep to the local bazaar traders. Ilham has six years of experience in sheep breeding, and all that time it brought him good income. For the last two years, Ilham feels that it is not enough to keep a small herd. He is going to expand his business, so he applied for 1000 USD to purchase an additional 15 sheep and fodder for the winter season. The estimated cost for sheep is 50-60 USD.
About Aqroinvest: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.
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