Zulayya is thirty-five years old and married with three children. She sells office and school supplies. Zulayya has six years of experience in this field, which makes her a knowledgeable and skilled person in this area.
The items she sells are very popular among school children and are in high demand. Her monthly profit from selling food is 300 AZN. Her brother helps her to sell supplies in her shop. She is a very successful entrepreneur because of her good location, in the central bazaar of her home city.
The profit she gains is not enough to reinvest into her business and covering her customers' demand is difficult for this reason. Being her only source of income, her profit is used for family needs. Zulayya would like to increase his sales and invest additional capital into her business. For this purpose she has applied for a loan of 1500 AZN. She will purchase and diversify additional office and school supplies with this loan. This will be her second loan. She has a good credit history.
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.