Diqqat is a 56-year-old father and husband, who is devoted to his three children and his wife. Fifteen years ago, he decided to go into business for himself and opened a small grocery store near his home in Agsu. His business has grown and provides his customers with a tremendous variety of high quality goods. Diqqat and his wife are very attentive and offer such a wide range of goods that they have won over their customers.
This is the first time Diqqat is applying for a loan with AqroInvest and Kiva. He will be using the loan to buy groceries and beverages to expand his product inventory. Diqqat expects a boost in his business income as he expands his business. He is very thankful and promises to pay his loan back responsibly.
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.