Parvana lives and works in Agsu. She is a 22-year-old single woman who lives with her parents. In 2008 her family decided to open a grocery store. Being the eldest daughter, Parvana greatly helped her parents. Parvana is a very hardworking young woman, and currently she manages the family business.
She requested 1500 Azerbaijan New Manats (AZN) to use as working capital to buy necessary inventory and increase her assortment of merchandise. Parvana has borrowed and succesfully repaid a previous loan from Aqroinvest. This is her second loan. Parvana dreams of expanding her business to secure the future of her family.
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.