Allahverdi is a 55-year-old man who is married and has three children. He is an IDP (Internally Displaced Person) and lives in an IDP settlement.
Allahverdi is a blacksmith and his primary business is making doors and fenders from iron. He has 15 year of experience in this field. His son helps him to take and implement orders. Allahverdi's products are very popular and in high demand, however there is lack in materials because the cost is high.
Allahverdi applied for 1900 AZN to purchase materials. This will be his second loan and he has a good client 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.