Mushfiq is 44 years old has a family of a son, two daughters and a wife. He sells food products in his shop, which he started four years ago. Currently, he handles the business successfully by himself. With income from sales, he takes care of his children, and also plans to give them a good opportunity for their higher studies.
Mushfig’s shop is in the central bazaar, where he has a good number of clients daily. Most people require the products he sells, such as sugar, rice, bread, butter, cheese, etc. He has good sales, due to the location of his shop.
He has taken loan from Aqroinvest three times. This time, he has applied for a loan of 2,000 AZN; he wants to provide fruits and vegetables in his shop, which have seasonal demand.
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.