Natiq B. is a 28-year-old married man. He lives with his wife and two school-aged sons in Bilasuvar. He is an internally displaced person from the Nagorno-Kharabkh, now living in the small settlement in Bilasuvar built for IDP families.
In 2004 Natiq opened a fruit and vegetable stand. The best feature of his business is that his stand is in a good location where there is a lot of pedestrian traffic. This is the only source of the income for his family.
This is his first loan with Aqroinvest and Kiva. He was able to increase the size and variety of his inventory with the help this loan of 2000 AZN. He hopes to use the profit from this loan to educate his children and to increase his product inventory. He will use his profits to cover his needs and repay the loan installments on schedule.
Natiq wants to expand his business. He plans to open grocery store in the future.
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.