Zuleykha is a 62-year-old woman on pension. She is married and has two daughters. She is a market vendor and sells different home products. She has 10 years of experience in this field, and is considered a knowledgeable and skilled person in her business.
The products she sells is very popular. Zuleykha is always friendly and polite with her customers, which makes her business successful. Her monthly profit is 120 AZN. As this business is the only financial source for the family, Ramziyya's husband helps her with the business.
Zuleykha would like to expand her business and purchase more merchandise and diversify the range of product she sells. For this purpose, she has applied for 1500 AZN. She has already demonstrated herself as a good client with a positive credit history and this will be her sixth loan.
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.