Kamil is 51 years old man, married with three children. He sells food products as macaronis, butter, cookies, sugar, fruits and vegetables, and, beverages in his shop. Kamil has 12 years of experience in this field, which considers him as knowledgeable and skilled person.
Food product he sells is very popular among people and are in high demand. His monthly profit from selling foods is 250 AZN. His wife helps him to sell products in shop. He is very successful entrepreneur because of good location, in the central bazaar of his home city.
Profit he gains is not enough to reinvest it to business and covering customers` demand is suffering for this reason. Being only one source of income, his profit is used for family needs. Kamil would like to increase his sales and invest additional capital. For this purpose he applied for 1000 AZN. He will purchase and diversify additional food stuff. Kamil has already demonstrated himself as a good client with a positive 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.