Mehman is 50 years old, married with two children. He is a market vendor and sells food items in his shop in Agsu city. He has 12 years of experience in food selling. This is a very profitable business and Mehman would like to expand it. His monthly profit is 260 AZN. This is the only financial source (of income) in his family. He applied for 1,800 AZN to purchase more food and increase his profit.
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.