He runs a furniture workshop in his home city. Specifically, most of the furniture he makes is from natural wood. He explains that he has 26 years of experience in this field and many customers. He believes that he has so many customers because he always complete orders on time and provides high-quality furniture. His monthly income is approximately 120 AZN.
While Museyib's customers have placed many orders, he has insufficient materials to complete the orders at this time. In fact, he is unable to purchase such materials at this time because many of his customers prefer to pay after his work is done. As a result, Museyib is applying for a loan in the amount of 1,500 AZN to purchase additional raw materials. This would be his second loan, and he notes that he a good history of repaying his loans.
About Aqroinvest: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.
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Success!! The loan was 100% repaid