Sahrab is 42 years old, married, and has a daughter and a son. He raises cattle. He buys calves, fattens them and sells them as meat. Sahrab has been doing this business for 12 years now. He says it is a profitable business, which requires continuous effort. He wants to become a successful farmer in his town.
Currently, he sells beef in the central bazaar. Here he supplies meat to local butchers. In his town people consume a lot of meat, due to their traditional meals. Especially as this town is famous for its rich food like kebabs and dolmas.
Kamran had taken three loans from Aqroinvest previously. He is a successful customer. This time he requires a 1,800 AZN loan because he plans to purchase four calves in order to 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.