Salman has raised cattle and farmed for nine years. With two children and the responsibility of providing food for his home, he has been able to improve his family’s financial situation thanks to the excellent care that he has given his animals. Today, Salman finds himself in need of purchasing cattle in order to be able to take advantage of raising and selling them when necessary. For this reason, Salman is requesting a second loan from AqroInvest Credit Union in order to purchase these animals and raise them so that they can be used to support his family. He recommended himself as a trusted client as he repaid his loan on time.
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.