Kamil is 47 years old. He is married and lives in the small village of Imishli. He has three children who are the apple of his eye. He is a cattle breeder. Kamil has 10 years of experience already in raising and selling cattle. During these years, Kamil has acquired the knowledge and skills required for the business.
He usually buys small calves, raises and fattens them and sells the meat in Imishli livestock bazaar. Looking after cattle is hard and requires spending a lot of time in the open air. The climate is very severe, very hot in the summer and very cold in winter. However, Kamil is not alone in his business, because his wife and elder son help to pasture and feed the animals.
His monthly profit is 250 AZN. He wishes to expand his business to improve the life of his family. For this purpose, he applied for a 1000 AZN loan. He will use this loan to purchase two cattle and fodder. This will be his 3rd loan and he has a good 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.