Seymur S. is a 25 year-old-man who lives in the center of Saatli region. Seymur just got married. He is a very happy man. In 2007 he opened his own fruit and vegetable stand. His stand is located in a good location where there is a lot of pedestrian traffic. This is his first loan with Aqroinvest and KIVA. He used this loan of 1000 AZN to stock up on fruit and vegetables to sell in his stand. This is the only source of the income for his new family. Seymur is an upbeat and diligent person. In future he plans to open his own store.
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.