Habil is a 40 year-old-man with 3 children. He is from Imishli. He grows fruits and sells them. Habil has been in this business for 10 years. As his pension is not enough to cover his family needs, he runs this business with support of his wife.
Habil grows fruits and sells them in the market for profit. His monthly income from this business is 300 AZN. Since he is retired, Habil’s family is highly dependent on this salary. In Azerbaijan fruits are in a very high demand and people like to eat fresh fruits a lot. Besides his fruit sales, he also sells flowers.
Habil is really optimistic about the future regarding the expansion of his business. He believes it will improve the living conditions of his family. To this end he has applied for a loan of 1600 AZN. Habil has already taken a loan from Aqroinvest before. He is considered a good customer.
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.