Tapdiq is a 55-year-old man, who is married and has two children. He is a market trader and sells jewelry. The products he sells are very popular, especially among women, who usually come to buy new jewelry of gold. Tapdiq`s products are all made of gold, because this is a very popular metal and Azerbaijani people value gold very much. His monthly income is 300 AZN. He rents a small shop in the local mall, and he has about 15 years of experience in this field.
Tapdiq would like to diversify the products he has available for sale and purchase Turkish gold jewelry items, which are in high demand. He applied for 1500 AZN to reach this goal.
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.