Khalid is a 37-year-old man who sells mobile phones and accessories. He is married and has two children. Khalid has four years of experience in this field and has gained the necessary skills and knowledge for business.
The products he sells are very popular because one person uses two or three mobile phones at once. Every phone has it purpose, usually one is for family, the second for business and a third for a second business if it exists. His monthly profit is 200 AZN.
Khalid would like to increase his sales and has applied for a 1200 AZN loan in order to purchase more mobile phones and accessories. He hopes this loan will help to improve life conditions for his family.
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.