Elvina M. is a 26-year-old trader who is married with three children. She works in the small village of Sabirabad city.
Elvina brings different kind of goods from Baku city which is three hours away from her house. She sells home products, perfumes, and dowry gifts from her house. She has her own business since 2003 and has already gained a lot of clients. Her sister helps her a lot to attract more clients.
She has applied for a loan to increase the number of items for sale to increase her profit.
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.