Chingiz is 35 years old. He is married with two children. Seven years ago Chingiz, with his mechanic's skills, started to do work for his neighbors and acquaintances. He learned this skill at another shop, until he had the opportunity to begin his own business. With all faith and enthusiasm, his auto mechanic business started to grow little by little.
Villagers who use trucks and tractors for their business always come to have their machines repaired by him. Now, Chingiz is finding that the tools and spare parts that he has are not enough to work at his job at full speed. For this reason, he is seeking a loan of 1000 AZN. This loan will be used to buy tools and spare parts used to repair autos. With this loan, Chingiz will be able to provide his children with better living conditions and improve the well-being of his family.
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.