Nargiz is a 52 year old market vendor. She is married and has two children. Nargiz sells food items, beverages, toiletries, detergents and clothes. She has had this business for the last 9 years. During these years Nargiz has acquired the knowledge and skills required for the business. She is a very friendly and polite person and has permanent clients who always come to Nargiz`s shop to buy something. Her father helps her to sell the products.
Her monthly profit is 230 AZN and he would like to increase her income. From the products she sells, the most popular are butter, macaroni, cookies and sugar and she would like to take direction and purchase more of the items to her shop. For this purpose she has applied for 1000 AZN 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.