Mubariz is 43 years old and a married man with two children. He owns a grocery store and provides for his family with the revenue generated by the store. Mubariz is requesting a loan of 1500 AZN to increase his stock of foodstuffs. Mubariz is ready to work even harder, make sacrifices, and push every once in a while to achieve his goal of becoming a successful entrepreneur. One of his dreams is to expand his business, save some money, and support his family. His current profit from this business is 150 USD. Mubariz has already shown himself to be a good client with a positive credit history.
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.