Natiq is 39 years old, with three children. He usually buys small cattle and raises and sells them. He has been in this business for eight years. His wife is a housewife who is helping in taking care of the house and helping Natiq's business.
Natiq sells meat in the bazaar. There is a big demand for meat because of the trade meals like dolma, kabab, etc. Natiq's income from business is AZN 400. He needs AZN 2,000 to buy five cattle. He hopes to make a good profit from this business.
Natiq is a good customer. This is his fourth loan. He believes that, with this loan, he can buy small cows and expand his business.
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.