Karim is a 24-year-old man who is single and lives with his parents. He makes and sells plastic and wooden doors and windows.
With the help of AqroInvest, Karim opened his workshop after he graduated from university. His father taught him how to make doors and windows and Karim continues the family business. He usually takes orders and sells windows and doors from his workshop. His monthly income is 230 AZN. He applied for a loan of 1500 AZN to purchase new tools and materials. This will be Karim's second loan and he has a good loan 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.