Farkhad A. is from Sabirabad. He is 49 years old, married, and is blessed with two sons. The high aim for Farkhad is to provide a better life for this family and to give a good education to his children. His wife helps him in this goal. They are a very diligent family.
To improve their living, Farkhad has been engaged in a trading business for over 10 years. After the first loan taken out from AqroInvest and Kiva, the income of his family increased up to 500 AZN per month. Farkhad was able to open a new grocery store. He is very thankful for the support rendered to him.
With the help of this second loan in the amount of 1500 AZN, Farkhad stocked the shelves of his store with more goods. After he repays this loan, he plans to apply for more loans to grow his business and to enlarge his new store.
Aqroinvest Credit Union was founded by a group of 32 Imishli farmers in 2001, and has grown to become one of the largest credit unions in Azerbaijan. It boasts a portfolio of nearly $5 million and is wholly owned by its more than 3,500 borrowers, as of December 2011.