Kanan is a 38-year-old man who is married and the father of two lovely children. He is the only income earner in his family and he operates a variety store where he sells groceries, toiletries, detergent, and beverages piecemeal in his local neighborhood. Kanan wants to provide his family with the best life possible.
Kanan is requesting an 1,800 AZN loan to buy groceries, toiletries, and beverages to expand his product inventory and continue to operate his business. This is his first loan and he is very thankful for the financial support.
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.