Safayat is 57 years old, and she is a very responsible and hard-working woman. She is married and has four children. She has been breeding poultry for the last 10 years. Her husband and she are on pensions, and her business is the only source of income in her family. Her husband helps Safayat to look after the poultry.
Poultry meat is very popular among local people, and many national dishes are made out of chicken and turkey. People use different kinds of poultry in different seasons. In the autumn and winter, people use goose and turkey, and in the spring and summer, people only use chicken. Safayat's income each month is 300 AZN.
She would like to increase her number of poultry to raise, and for this purpose, she applied for a 1500 AZN loan. She is going to buy more chicken and sell them at a profitable price, and hence, increase her profit. This will be her third loan, and she has a good client 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.