Mushfiq is 41 years old. He is married with two children. Mushfiq supports his family while his wife takes care of their children. Mushfiq sells fruits and vegetables. He has been in this business since 1993, and has gained good experience in this field. His profits from this business is 120 AZN. Mushfiq has one employee. He is well known in his area and has earned the respect of his neighborhood.
Mushfiq is requesting a loan of 2000 AZN in order to renovate his shop. In the future, Mushfiq hopes to grow his business by opening a second shop to increase his revenues. By increasing his profits, Mushfiq will easily be able to educate his children and provide for all of their needs.
He has good loan history and this is 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.