Nizami is 54 years old and a married man. He is a farmer and has raised seasonal fruits and vegetables for the last 5 years. He is very hard-working man and spends most of his time in the open air. His brother and wife help him. Nizami chose this business because it is profitable and fresh crops are in high demand. People use fresh vegetables and fruits every day and consider them healthy.
Nizami sells fruits and vegetables in the bazaar. His monthly income from this business is 400AZN. He wants to expand his business and produce more fruits and vegetables to cover market demand and to increase his monthly income. For this purpose he applied for 1500 AZN. He will buy new garden tools, seeds and fertilizers.
This will be his second loan and he has a good loan history. He is very optimistic about this loan as the previous one .
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.