Sadiq is 39 years old. He is married and has 4 children. Sadiq began earning income selling seasonal vegetables and fruits. He has 7 years of experience in this field. After a while, he began working at other jobs, but realized that his work wasn't bringing in enough income to cover the expenses of his family.
Therefore, Sadiq decided to independently reengage in the seasonal vegetable sales business. Gradually, he is becoming known in the area; however, he still needs additional capital to purchase vegetables and fruits for sale, given the high demand during the current season. Sadiq is asking for a loan of 1,400 AZN. With this money, Sadiq will be able to buy additional fruits and vegetables for sale and thus earn more profit. Sadiq has a good client history and he is thankful to everyone for their support.
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.