Amrah is a 39-year-old man, married with two children. He sells food products as macaroni, rice, candies, cookies, sugar and beverages in his shop. Amrah has six years of experience in this field, which makes him a knowledgeable and skilled person.
The food products he sells are very popular with people and are in high demand. His monthly profit from selling foods is 170 AZN. His wife and son help him to sell products in their shop. He is a very successful entrepreneur because of good location, in a central bazaar of his home town.
Amrah would like to increase his sales and invest additional capital. For this purpose he applied for a loan of 1000 AZN. He will purchase diverse additional foodstuffs. 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.