Namiq is a married man with two sons. The oldest child is 26 years old and married and the youngest is 19. Namiq's wife is a housewife. He has had a variety store business for over 20 years. He sells items like sugar, vinegar, coffee, and canned goods to the people in his community. He works hard to help provide their household needs.
Namiq requested his second loan of 1,500 AZN to buy more items to sell, such as noodles and canned goods, and to buy home supplies for his family. In the future, Namiq hopes to open a new store.
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.