Mukhtar, a 33-year-old married man, has owned an auto repair shop in his town Agsu since 2007. He is the only provider for his family - his wife and two school-age daughters. With his family, he has to work hard and on an extra time basis to satisfy their needs.
Mukhtar has great demand in his shop. Thus, he wants to take a loan of 1,000 AZN to buy additional spare parts to offer good service to his customers. This is his first loan from AqroInvest and Kiva. Mukhtar is very thankful for your 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.