Saleh A. is 46 years old. He is married and has three children. Saleh is hardworking and has fought to provide for his family and to educate his children. He started his business ten years ago and now he has great cattle breeding experience. Thanks to the first loan from AqroInvest, Saleh was able to increase his income. Over time he has increased his sales and now he needs assistance investing in his business. The business has been going well and he would like it to continue to grow. Saleh has applied for a loan of 1000 AZN to buy young cattle. This loan will help to give his children a better quality of life.
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.