Mushfiq has always been a hardworking man. He has made sure, from his young age, that his family never goes without their daily bread. He is married with three children. Mushfiq has a grocery store where he sells various kinds of food products. He began this enterprise 10 years ago and his current monthly profit is about $350. Thanks to his perseverance and dedication, his business has expanded.
Today he needs to buy additional food items to increase the variety of goods that he sells. For this purpose, he is requesting a loan of 1,500 AZN. With the first loan from AqroInvest CU he was able to expand his profit and improve his business. He already has completed his first loan successfully and we believe his perseverance and clear vision will become key success factors with his small business.
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.