Tahmina is 50-years old, and a trader who sells different kinds of goods in her shop. She has 20 years of experience in this field. She is a widow and is raising two children alone. Tahmina had a very hard life and her beloved children bring her joy and happiness.
Owing to her business, she is able to raise the children and bring them necessary things. Her son helps her to sell food products such as candies, soaps, detergents, cookies, macaroni, and butter. Her monthly income is 300 AZN, but this is not enough for her family.
To improve her financial situation, Tahmina decided to increase the range of merchandise in her shop. For this purpose, she applied for a loan of 1500 AZN. This will be her second loan; she has 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.