Rayil is 62 years old and a responsible man. He is married and has two daughters and two sons, all of whom are married. Rayil and his wife did their best to provide a better life for their children.
All of his life, Rayil has been buying and selling animals. With help from his eldest son, Rayil sells dairy and meat in the local bazaar. He is a hardworking man and wants to expand his animal-breeding business. For this reason, he decided to apply for his second loan from AqroInvest. He requested 1500 Azerbaijan New Manats (AZN) to buy 10 more sheep and feed for them. He hopes that the extra income this loan will provide will allow him to improve his family's quality of 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.