Boyukaga is a 38 year-old man who is married and has three children. He is a market vendor and sells spare parts for cars in a rented garage. He has eight years of experience in this field. He is doing his business alone and nobody helps him. He chose spare parts which are in high demand, particularly for Russian cars and for Mercedes. His monthly income is 400 AZN. In this region, it is hard to find quality spare parts because most of them are expensive and hard to find. Boyukaga wants to change the current situation and start selling this kind of product.
He applied for 1200 AZN to make a small renovation to his shop and to purchase expensive spare parts to meet the demand of customers.
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.