Vasif is a 58 year old man. He is married and he has four children. He is a market vendor and sells different kind of products like candies, cookies, sausages and other items. He has 8 years of experience and knows his business very well.
Vasif is a hardworking, smart and kind person. His shop is located in a well-traveled place. Because he has many regular customers, Vasif always brings in and sells fresh products. Food products are in very high demand, especially candies. He delivers his products from a neighboring city, and resells for a more profitable price. Vasif`s monthly income is 350 AZN. His wife helps him to run the business.
Vasif is requesting a 1500 AZN loan to increase his working capital, develop his business and expand his product selection. He will increase his capital in order to provide good living conditions for his family and meet his children's needs. Vasif has good credit history and this will be his second 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.