Alisalam A. is a married 32-year-old man. He lives with his family in Mahammadali village in the Imishli region. He is a father to one son and one daughter. In 2007 he started his own poultry business to support his large, six-person family. It is the only source of income for his family.
This is the first loan Alisalam received from Aqroinvest and KIVA. He used the 1000 AZN loan to buy more chickens. After repaying this loan Alisalam plans to take out another loan to build a new hen coop.
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.