Saleh is a 58-year-old man. He is married and has three children. Saleh has a permanent job in a sugar factory, where he works from 8 a.m. to 2 p.m.. His salary as a general worker is too low to cover his family's needs. He comes to work to his shop after 2 p.m. Ten years ago he started to seek new options to make money and an idea about opening a mobile phone shop came into his mind. Now he is a successful entrepreneur and his monthly income is 400 AZN. He hired his son as a salesman and now the mobile phone shop is considered the family business. His store is successful because he has a very good location in the central bazaar. He primarily sells mobile accessories and numbers.
Now he would like to help his son get married and for this purpose he needs more investments in his shop. He applied for 1500 AZN and this will be his third loan. He is a trusted client of AqroInvest and we wish him all the best.
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.