Zivar M. started her own business eight years ago because her husband’s salary was not enough to cover their family expenses. She sells confectionery like candies, cookies and pastries in the local market. The income she generates allows Zivar to support her family.
Zivar dreams of enlarging her store and purchasing more merchandise to satisfy her customers' demand. Today she is requesting 1000 AZN. She is going to spend the loan on purchasing confectionery to enlarge the range of goods she sells. She is planning to spend the income for the well-being of her family.
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.