Svetlana is a businesswoman who sells furniture and household appliances for cash and on credit. She started this business four years ago with a variety of products.
Svetlana hopes to receive a loan from AqroInvest so that she can invest in more products to increase her sales. This is her third loan from AqroInvest. With this new loan, in the amount of 2,000 AZN, she will buy two wooden double beds. This will enable her to sell them to her customers at a good price.
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.