Adila is a 59 year old woman who is receiving a pension. She is married and has six adult children.
Her pension is not enough to cover her basic needs so she decided to start her own business. She is market vendor who sells different kind of goods such as flour, beverages, macaroni, butter, and candy. She has 27 years of experience and deep knowledge of her market and client's demands.
The food products that Adila sells are very popular and in high demand. She is a very successful entrepreneur because of the store's good location, as it is in the central bazaar of her home city. Her husband helps her purchase the products and bring them into the shop. The store provides the family's sole financial income. Her monthly profit from her business is 100 AZN.
She is applying for a 1500 AZN loan to purchase more food products and a diverse range of goods to cover customer demand. This will be her second loan. She has a good borrower 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.