Zamina is a 54-year-old woman, married with three daughters. She is an honest and hard-working woman. She is a widow and is raising her children alone.
Zamina has been reselling jewelry for the last seven years. She started her business with a tiny amount of money and with several loans from AqroInvest CU, expanding slowly. As she is raising her children on her own, it is hard for her to provide for them and she always needs support. Every morning Zamina leaves home and comes back late at night. The money which she makes is only enough for day-to-day spending and it's hard for her to save for the future.
For this reason Zamina would like to take out a loan of 1800 AZN to purchase more jewelry in bulk and expand her business, increasing her profits and improve living conditions for her family. This will be her fourth loan and she has a positive loan 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.