Salim D. is from Sabirabad. He is a 40-year-old man living with his family. Salim grew up in a family of farmers. He got married when he was very young and soon became the father of two sons and one daughter. In order to provide a better life for his family, Salim started his business of cattle breeding. He has been practicing cattle breeding for ten years.
Now he earns about 400 AZN a month selling dairy and meat products in the local bazaar. This business is his main source of income. Salim is requesting this loan of 1500 AZN to buy three more cows, increasing his total number of cows to six. This is his first loan with AqroInvest and Kiva. The extra income from this loan will help improve his family's living conditions.
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.