Madina is a devoted mother who struggles day after day to provide the best for her family. Six years ago she got the idea to start raising cattle in order to contribute to the family finances. She took advantage of the space she had available on her family’s land to start this business, which she runs together with her husband. Slowly, her number of cows has increased and her clients have started asking for more and more. Madina is not alone in her business as her husband and 2 grown sons help her. With an endless list of requests, she has finally decided to increase the number of livestock she keeps, and for this reason she is requesting a loan of 1,500 AZN. She has recommended herself as a super client and has completed the previous loan she took from AqroInvest through Kiva.
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.