Qaraoglan is a hardworking husband and father of two children. He owns a small café which serves all sorts of food and tea. He likes his work and stands out in it due to his attention to detail, the cleanliness of his establishment, the quality of his work and his friendliness. He has three years of experience in this field and his monthly profit is about 300 USD.
Qaraoglan started his business cooking the national meat dish, which is very popular. Today, he rents a place at the central market of Sabirabad city. He would like to extend his business and purchase new plastic chairs and tables to make his place more attractive to customers. For this purpose, he has requested a loan of 1,000 AZN.
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.