Kamil is 50 years old, married with three children. He has 30 years of experience in running a grocery store. He usually sells daily products in the store such as tea, sugar, rice, candy, sauces, beans and other food items. His wife helps him to sell products.
Kamil`s store is located in a bazaar. There are daily customers who come to purchase the items they need. His monthly income from the business is 150 AZN. The revenue he gets from the store takes care of his children and also supports his relatives, financially. He is the person who always works hard in order to achieve more.
Kamil has taken a loan before Aqroinvest. He has applied for a fifth loan of 2,000 AZN. With this money he plans to purchase more products and expand his business.
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.