Zulfiyya is a 38-year-old woman. She is married and has three daughters.
She is a market vendor and has been selling wheat and flour in her wholesale shop for the last fifteen years. During these years she gained enough skills and experience as well as a wide range of permanent customers in her business. She sells items with attractive prices and high quality.
Her monthly income is 130 AZN. Zulfiyya says the location of her shop brought her success and made her business profitable.
Now Zulfiyya applied for 1,200 AZN in order to expand her business and purchase more merchandise. The reason is that demand for wholesale products is high and sometimes Zulfiyya can’t afford all her customers’ orders.
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.