Rovshan is a 46-year-old man who owns his own café. He is married and has two children. His son and wife help him run the business. He is a professional cook and makes delicious beef and lamb kababs. He also serves customers different national dishes like dolma, pilov, and dovga soup. His café is always full, especially during lunch and dinner time. Rovshan is proud that his café is so popular: this business brings him 200 AZN income per month. Now he would like to expand his business and improve the condition of his café. For this purpose he has applied for a loan of 1,500 AZN to buy new furniture and renovate. This will be his third loan, and Rovshan 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.