Mehrac is 60 years old and married man. He is a farmer from the Bilasuvar and has been farming for many years. Mehrac's greatest goal is to improve his economic situation and provide a better life for his children. He has two sons and three daughters. Mehrac sells meat and dairy produced in his cattle-breeding business at the Bilasuvar bazaar. He applied for 1000 AZN loan to purchase three more calves for his breeding business. After repaying this loan he plans to apply for another loan from Aqroinvest to buy more cows.
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.