Raya is 54 years old, married and raising three children. She is very hardworking and has more than 10 years of experience buying and selling food products in a store. She handles her business alone since her husband is a worker, although her husband also helps. From this business her monthly profit is 120 AZN.
Raya sells groceries like rice, bread, sugar, eggs, milk, sausages, as well as other daily use products like deodorant, perfume, gel, soap and other accessories. She runs her business in her yard which is located at her house.
Raya continues to improve her business, increasing the quantity of products and basic goods. On this occasion she asks for 2000 AZN to buy groceries like rice, oil, bread, sugar, eggs, milk, sausages and other things for sale in her store. She has a good loan history; this is her third 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.