Rasif is 58 years old, married and has three children. For five years, Rasif has been providing welding services. He takes orders for making gates, doors and small stoves, and sells them at the market due to high demand.
This is only one financial source in Rasif`s family. With the first loan from KIVA, Rasif was able to open his own workshop. Now Rasif has applied for a loan to fully meet the demands of his customers. He is asking for a loan of 1,400 AZN to purchase materials and cover the high demand of orders. This loan with help to make his business successful and to provide all of his children with a better life.
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.