Aqshin is 25 years old. He is married and has one son. He sells seasonal fruits such as pears, oranges, apples, pomegranates, and bananas. With the help of AqroInvest CU, Aqshin was able to start his own business. He has 3 years of experience and the reason to start his business was poverty and failure to find a permanent job.
Fruits are very popular among Azerbaijan people and in high demand during the year. People like to eat it fresh and this is one of the main desserts for guests. He sells crops from his house and people passing by always buy fresh fruit. His monthly income from this business is 120 AZN.
Aqshin wants to expand his business. The amount of products he sells is not enough to cover the high demand. He would like to purchase more fruits and vegetables and increase his turnover as well as to improve life for his family. For this purpose he applied for 1500 AZN loan. This will be his second loan and Aqshin 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.