Shukufa is 41 years old and married, with two children. She works at purchasing and reselling cattle with her husband. Shukufa is a hard-working woman who has fought to provide for her family. Her husband is working as a teacher in a local school, but his salary is not enough to cover all the needs of the family.
She would like a loan of 500 AZN in order to purchase additional cattle to increase her inventory and to meet customer demands. Shukufa believes this will lead to greater revenue and, ultimately, greater profit for her family. In the future, she would like to reinvest the earnings generated by this loan back into her business. She will then purchase additional cattle and increase her income further.
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.