Alim lives in the Sabirabad region. He is 29 years old, married, and has one baby daughter. He has been in the cattle-breeding business for two years. Alim buys cattle, cares for them for more than three months and sells them in the local market.
He want to buy more cattle to develop his business but he does not have enough money for it. That is why he requested the loan from Aqroinvest and Kiva. This is his first loan, and is for an amount of 600 AZN. He plans to buy two cattle. His dream is to have a better future for his family.
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.