Etibar is from Sabirabad. He is 43 years old. Etibar is married with five children. To make a living, Etibar owns and operates a general store, selling a variety of different products such as tea, candies, diapers, etc. in the local community. Etiabar has been engaged in his business for over 15 years and earns 250 Azerbaijani manats a month from these activities. He hopes to expand soon, just as he fervently hopes that his daughters will be able to graduate one day and finish their studies. Etibar requested a 1,500-manat loan to buy more quantities and varieties of products to expand his inventory. This is his first loan from AqroInvest and Kiva.
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.