Vusal is 31 years old. He is married with two children. Vusal sells detergents in the central local market. He has been in this business for 10 years. This kind of product is very popular among local people. His monthly income from selling detergents is about 250 USD. Considering the constant demand for this kind of goods, Vusal's business is quite successful and brings a stable income for the family. Today, Vusal requests 1,500 AZN to purchase more items with the purpose of increasing his range of goods to sell. This will be his second loan from AqroInvest.
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.