Firengiz is 55 years old and married with two daughters. She is a market vendor and has sold women's clothes and home products for the last 20 years. She started her business because her husband was unemployment for many years. Now she is a successful entrepreneur with a monthly income of 120 AZN. The products she sells are very popular and Firengiz has very good taste. Her husband helps her a lot to purchase and transport clothes from another city.
She would like to renew her stock and purchase a new collection of women's clothes for the spring season. For this purpose she applied for 1500 AZN. This will be her second loan and she has proved herself a trusted client.
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.