Javid is a 31-year-old man. He is single and lives with his parents. Javid has been selling phone accessories for the last four years. He is very experienced in his business and knows well where to buy merchandise for a low price.
Javid usually brings phone accessories in from other cities and buys them in wholesale markets for a low price. Then he resells them for a more profitable price in his home city. He is very friendly and has already gained some permanent clients. His father helps him to bring in new goods from another city. Javid`s monthly income is 200 AZN per month and he wishes to increase it to 400 AZN.
Javid has applied for a loan of 1200 AZN in order to purchase more phone merchandise and increase his sales since this type of product is very popular. He wishes to save some money for his upcoming wedding party.
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.