Mubariz N. is 45 years old. He is married and has four children. Mubariz sells cattle; he purchases the small cattle in the central market, feeds them and than resells them at higher prices in the local market.
After 9 years in this business, Mubariz knows very well how to choose, breed and look after the animals. He gets up every morning in order to feed the animals and look after them. His knowledge and skills make his business successful and generate a stable, considerable income for his large family.
Mubariz is planning to enlarge his stock and purchase more cattle. He is requesting a 1,000 AZN loan to purchase young cattle and feed for them.
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.