Huseyn is a young entrepreneur, 24 years of age. He is single and lives with his parents. He has been selling mobile phones and accessorizes for the past four years. With the help of his father, he was able to start his business. He usually works from 9 a.m. to 8 p.m., because many people are coming after work to look for new mobile phones. In summer, his working hours are getting longer. He is a very hard-working and polite man, that’s why his sales are high -- 190 AZN per month.
He applied for 1,500 AZN to purchase some of the most-demanded phones, like Samsung and iPhones, which he expects will increase his sales.
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.