Nemat is 26 years old and a married man. For 3 years Nemat has been breeding cattle. Although he is young, he is a good businessman, because he works hard with great pleasure. His monthly net profit is 250 AZN. This is the second time Nemat has requested a loan for Agroinvest CU. His main purpose is to increase his number of animals and of course to get profit.
He hopes that borrowing 800 AZN from Agroinvest CU will help and ensure his local business development.
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.