Sona usually buys small calves, raising and fattening them for five-six months, and then reselling them for profit in the livestock bazaar. The business earns about 250 AZN each month and is now the family's main source of income. Because she wants to expand her business and improve her family's living conditions, Sona is requesting a loan of 1000 AZN to purchase three heads of cattle, one milk cow, and one baby calf. She has a good client history, and this will be her fourth loan.
About Aqroinvest: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.
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