Rafayil is a gentleman who has dedicated himself to the business of farming and raising livestock for the past four years. He is married and has three children. He usually buys small calves, raises and fattens them and resells them in several months at a profitable price. His wife actively helps him in looking after the cattle. The necessity that he is currently faced with is the need to invest in the purchase of cattle. For this simple reason he is seeking a 1,000 AZN loan to obtain cattle to sell.
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.