Farahim is 55 and a livestock breeder with six years of experience. He is a trusted borrower of AqroInvest and KIVA. He is married and has two grown sons who are, thanks to his experience, independent adults also engaged in farming. Farahim and his sons work on the same farm and their total monthly income is about $400 USD. He usually purchases small cattle. Then he raises them and sells them in the livestock bazaar after five or six months. He would like to purchase more cattle. Summer is the high period for wedding parties and dishes from meat are very popular. Farahim would like to take this chance and purchase more cattle for their meat. This will be his fifth loan from AqroInvest and his second from KIVA.
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.