Akif is a married father of three children. He runs a small grocery store selling food products in the downtown area of his hometown. Akif 's store is well-known in this neighborhood as he serves his customers well and works late hours, which are very convenient for many customers who work late and go shopping after they are finished work. Akif has been in this business for 7 years and his monthly profit is about 180 AZN.
Akif's son actively helps him in his business. Akif is seeking a loan of 1,500 AZN to purchase foodstuffs to increase the variety of his selling products. This will allow Akif to increase his monthly profit and improve his family's life.
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.