Nazaket is 52 years old and the mother of two sons. She is a very hardworking lady because for 15 years she has grown fruits and vegetables in her yard and sold them in the bazaar. In this business her son also helps and from this business her monthly profit is 100 AZN. She also teaches pupils at school.
In Azerbaijan, fruit is in very high demand and people like to eat fresh fruit a lot. Besides her fruit, she also sells flowers. Nazaket is really optimistic about the future, regarding the expansion of her business, in order to raise the standard of living of her family.
For this, she has applied for a loan of 1,900 AZN. Nazaket has already taken a loan from Aqroinvest before. She is considered a good customer and this is her second 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.