Teymur is forty-seven years old and married with two children. He sells food products such as macaroni, butter, cookies, sugar, fruit and vegetables and beverages in his shop. Teymur has four years of experience in this field, which makes him a knowledgeable and skilled person in his business.
The food products he sells are very popular among people and are in high demand. His monthly profit from selling food is 250 AZN. His wife helps him to sell products in his shop. He is a very successful entrepreneur because of the good location of his shop, in the central bazaar of his home city.
The profit he gains is not enough to reinvest into his business and his ability to meet his customers' demand is suffering for this reason. Being his only source of income, his profit is used for his family needs. Teymur would like to increase his sales and invest additional capital into his business. For this purpose he has applied for a loan of 1500 AZN. He will purchase and diversify additional food stuff with his loan. Teymur has already demonstrated that he is a good client with a positive 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.