Jalal is 41 years old. He is married with two children. He sells foodstuffs like macaroni, wheat, buckwheat, cotton seed oil and other products.
When he started the business three years ago it was only retail sales. Gradually expanding the business, he purchased the goods as a wholesaler and distributed them among the stores. The business became successful and stable and his current monthly profit is about $250.
Jalal requests a 900 AZN loan for purchasing foodstuffs to increase the range of goods for sale. He already completed his first loan from AqroInvest CU and has a good client history. He thanks all supporting him and promises to pay the loan in a timely manner.
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.