Ceyhun is a 26-year-old man who lives in the city of Agsu. He is single and lives with his parents. Ceyhun is an owner of a food-stuffs store. His father helps him in his business. This is the first loan Ceyhun received from Aqroinvest and Kiva. Ceyhun used this loan of 1000 AZN to buy more goods to sell in his store to increase sales. His business is the only source of income for his family. Ceyhun plans to open another store in the future.
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.