Samil Nuruyev a 46-year-old man who lives and works in Imishli. He is married and the father of 2 sons and 1 daughter. Samil is a teacher in the village school. In 2004, for extra income, he started his animal-breeding business. His sons help him in his business.
This is the first loan he has received from Aqroinvest and Kiva. He used this loan of 800 AZN to buy two cows. Samil is a hard-working man who has great plans for his future. After he repays this loan, he plans to apply for more loans to expand his business.
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.