Abuzar is 34 years old and earns his living as a butcher. He usually buys cattle or sheep and then sells their meat in his shop. Fresh meat is very popular among people in this area, and Abizar is doing his best to meet high demand for his products. His father helps him choose the best animals to buy, and he is able to earn a monthly income of about $250. Abuzar is a very dedicated father and husband and has two children. He is applying for this loan to improve his family's life. At AqroInvest, we consider him a good client with a proven record of repaying loans fully and 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.