Muqaddash is 48 and married with 2 children. He sells different products like detergents, cookies and other foodstuffs. He has more than 10 years of experience in this field. His monthly profit is about 150 USD. His son helps him to sell the products. He applied for a loan of 1,500 AZN to purchase more products. He already took a loan from KIVA and because of it, he was able to improve his store and improve his profit. He promises to repay on time.
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.