Jafar is married with one child. He sells food items. His grocery store is located in a very busy place, which is why there are always many customers who come to buy groceries. He is a hard worker and works long days to make sure his family has everything it needs. Eminaga has been running this business for eight years. His monthly profit is 300 AZN.
Jafar’s business is the only source of income for his family. He realizes this responsibility and is doing his best to meet the needs of his family.
Today he is requesting a loan of 1,200 AZN to purchase more food items. Jafar is hoping that from the increased profit from his business, he can expand his grocery store.
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.