Adil is a 47-year-old married man with two adorable daughters. He is a market vendor and sells different kinds of food like candies, sausages, macaroni, tinned food and juices. These are the most popular products. Adil has 10 years of experience selling food and during these years he has gained the necessary experience and skills required for a successful business. His monthly income is 230 Azerbaijani manats (AZN).
Adil would like to diversify and purchase more food merchandise. This will help to increase sales and improve living conditions for his family. He needs additional capital and for this purpose he applied for a 1000 AZN loan.
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.