Alsad is 45 years old and has three children. He is very hard-working person, because it requires continuous effort to take care of a family of five people. Alsad is working in a service sector business. He has a lot of experience of dealing with many customers.
Alsad has been managing a small restaurant in the central market. In this restaurant, he serves several dishes, such as kebabs, soups and other traditional foods. He has been working in this sector for ten years. He says the service sector is a very delicate area, because people always pay attention to how they are being served.
This is Alsad’s second time applying for loan in Aqroinvest. He is requesting a loan of 1,600 AZN. With this loan he plans to buy more dishes, chairs and a few tables. He is really optimistic about this loans positive effects, because he believes that more customers are enjoying dining out recently.
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.