Rafiq is 45 years old, married and has five children. Due to his family’s financial situation, he did not have many opportunities to get higher education. That’s why, after finishing school, he tried to become independent and to find a way of earning in order to help his parents and now his own family.
Through the years, he tried various types of activities and finally he started his business selling cell phones. Since 2005, Rafiq has supported his family through his efforts. He believes that this business is profitable and the generated income allows him to support his family.
Currently, his business is doing well, but Rafiq needs to increase his stock of goods in order to serve the demands of his clientele. With this purpose in mind, Rafiq has requested a loan of 1,300 AZN.
He is grateful to all those supporting him and promises to repay the loan promptly.
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.