Rahile is 53 years old and married with two children. She has been selling women's undergarments for the past eleven years. She sells these undergarments in a bazaar and from her house. She began by selling clothes on order and cosmetics by going door to door in neighborhoods adjoining where she lives. Her husband helps to sell clothes in her store, which is located in the bazaar. From this business her profit is 500 AZN.
There is a big demand for women's clothing in Azerbaijan, and because of this Rahile wants to invest in her store so that she can offer her customers more clothes. Currently, she needs a loan of 2,000 AZN. Rahile is requesting this loan to purchase more goods (like women's underwear, clothes, and shoes) in order to increase the volume of her sales. This is her second loan, and she has a good loan history.
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.