Asaf is 43 years old and married. His wife is a housekeeper, and they have two sons.
Asaf has been growing vegetables and fruits for over ten years; his eldest son helps him. He is very hard working and passionate about his work. Asaf sells his crops in the central bazaar, making profits to support his family.
Asaf s income from the business is 200 AZN, which is only enough to cover his family's basic needs. Now Asaf needs a 2,000 AZN loan; he wants this loan to arrange a wedding ceremony for his son.
In Azerbaijan, weddings are followed by traditional singers and traditional meals. He wants a traditional wedding for his son, and this is a big expense.
He has a good credit history, and this will be his sixth loan.
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.