Nuraddin O. is a 49 year-old-man, who lives with his family in Saatli region. He is head of big family. Nuraddin has three sons and a daughter and all of them are adults. He started his cattle-breeding business in 2007. Now he has 5 dairy cows. He sells dairy in local bazaar all week. His wife stays at home and does housework. Nuraddin works with his sons from very early in the morning. By improving and expanding his business Nuraddin wants to provide his children and wife with a better life. This is his second loan with AqroInvest and Kiva. He has successfully repaid previous loan. He requested 1500 AZN to buy three more cows.
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.