Huseyin is a 23-year-old man, single and living with his parents. Huseyin has been breeding chickens, turkeys and geese for two years. After several attempts to find job he gave up and decided to start his business. With the help of his father, who invested in his business, Huseyin bought first poultry.
Huseyin usually sells poultry in the central bazaar or to private customers. His monthly income is 230 AZN. People in Azerbaijan eat poultry and use it in everyday dishes. Most popular dishes made of chicken and turkey are kabab (grilled meat) and different soups. Depending on the season the popularity of poultry is different. For example, chicken is popular all year, turkey in spring and autumn, and goose in winter.
Huseyin wants to expand his business and improve the living conditions of his family. He applied for 1000 AZN loan to purchase more poultry.
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.