Mammad is a farmer and has grown seasonal fruits and vegetables for the last fifteen years. He grows pears, apples, peaches, plums, pomegranates, cucumbers, tomatoes, carrots, and potatoes. He chose to grow fruits and vegetables because it is profitable and there is a high demand for produce. Over the years, Mammad has gained enough skills and experience to run his business.
People in Azerbaijan eat fresh vegetables everyday and consider them to be healthy. Vegetables are featured in many national dishes, such as pilau and dolma. Fresh fruits are served on every table in Azerbaijan and are also used to make fresh punch.
Mammad usually sells his crops in the central bazaar. His monthly income is 70 AZN. Mammad wants to expand his business and grow more fruits and vegetables as his produce is in high demand. For this reason, he is requesting a 1000 AZN to buy new garden tools, seeds, and fertilizer.
More information about this loan
This loan is designed for clients residing in settlements for Internally Displaced Persons (IDPs) in Bilasuvar, Azerbaijan. An internally displaced person (IDP) is someone who has been forced to flee his or her home due to armed conflict, violence, human rights violations, or natural or manmade disasters, but who, unlike a refugee, has not crossed an international border (source: UN Office for the Coordination of Humanitarian Affairs). Many of these people have failed to qualify for loans through formal channels due to low income and lack of collateral. By funding this loan, you are creating opportunities and supporting economic development in extremely underserved communities.
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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