Muslum is 46 years and has a family consisting of a wife and two sons. He is selling stationery in his shop. He has selling experience from the past 16 years. Previously he used to sell different products in his shop. Now he is focused only on selling items for schoolchildren and students. Muslum is running the business with the support of his wife. He has a shop in the central bazaar.
Muslum has good sales, due to his location near schools and other educational centers. Soon, in September when schools open, more school items are going to be purchased.
Muslum has taken three loans from AqroInvest previously. Now he requires a loan of 2000 AZN. With this money he plans to purchase more items for the new semester, when pupils and students return to attend schools and colleges.
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.