Isa is a 26-year-old man who is married and has one daughter. He is an IDP (Internally Displayed Person) and lives with his family in an IDP settlement. He is a farmer and raises seasonal fruits and vegetables in is garden and on his land. He has 3 years of experience in this field, hence market vendors respect him and consider his crop natural.
Isa usually sells cucumbers, tomatoes, potatoes, carrots, pumpkins and greens. He has a stable income of 80 AZN. He uses only organic fertilizers on his land. Fresh vegetables are very popular in Azerbaijan and people consider them healthy. Many national dishes made of vegetables, like pilau and dolma. Fresh fruits are serve at every table in the Azerbaijan family and also make fresh punch.
Isa has applied for 1900 AZN loan to purchase seeds and fertilizers to increase his crop and sales. This will be his second loan and he is deemed trustworthy by AqroInvest CU.
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.