Ilham is 31 years old. He is married and has two children. Ilham was born into a simple, rural family and has worked with livestock for many years. He is very experienced and has the special skills in livestock care that help him to develop his business. He raises and sells livestock, and sells meat and milk.
Ilham is requesting a loan of 1000 AZN to enable him to purchase a second dairy cow. The second cow will enable him to increase the milk produced and will provide income security to the family when one of the cows is with calf. The income will enable Ilham to provide for his family, take good care of his cows, and supply his neighbors with quality milk.
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.