Gulshan is a 26-year-old woman who engages in milk sales and cattle breeding. She is married and has three children. Together with her husband, she raises cattle and resells them for a higher price for meat purposes. Her income comes from milk products as well. Her business generates a stable monthly income of 200 AZN. She applied for a 1,500 AZN loan to purchase one milk cow and two calves.
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.