Sevil is a hardworking woman who is married with four children. Her husband is a workman and doesn’t have a permanent job. For the past three years, Sevil has been running her sheep-feeding and farming business. She usually buys lambs from local vendors or from the livestock bazaar and after six to eight months she resells the grown sheep and fleece. With the profits she hopes to make, Sevil plans to enlarge her herd. Her husband helps her in this business. Sevil would like to request a loan of 1,000 AZN to purchase sheep and expand her 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.