Khanimnaz is a 48-year-old woman who has two sons. Her husband is a laborer and her elder son is the only one helping her to grow vegetables and fruits to sell. She is a very hardworking woman and is confident that by running her business successfully, she can support both her sons to get a good education.
Khanimnaz has been growing fruits and vegetables for nine years. She believes that the service she provides is very useful to her community. She even sends blessings to her competitors who grow such fruits. Azerbaijani people often use vegetables in dishes and eat fruit for dessert.
With her son's help, Khanimnaz strongly believes her business will become more successful in the coming years. She has applied for a loan of 1,500 AZN from Aqroinvest in order to invest more in her business. This is her second loan and she has a good loan history.
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.