Antiqa is a 58-year-old woman, married with four children. She sells food products such as macaroni, butter, cookies, sugar, tea, candies and beverages in her shop. Antiqa has about 10 years of experience in this field and she is considered as a knowledgeable and skilled person.
The food products she sells are very popular among people and in high demand. Her monthly profit from selling foods is 400 AZN and it increased after obtaining a loan from AqroInvest. She is a very successful entrepreneur because of a good location in the central bazaar of her home city.
The profit she gains is not enough to reinvest into the business and being able to cover customers' demand is suffering for this reason. Being the main source of income, her profit is used for family needs. Antiqa would like to increase her sales and invest additional capital. For this purpose, she applied for 1,600 AZN. She will purchase and diversify with additional foodstuffs. She is a very responsible person. AqroInvest has cooperated with Antiqa for the last two years and she has finished previous loans without any delays.
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.