He has been raising seasonal fruits and vegetables for the last 12 years. He chose this business because it is profitable and because there is always a high demand for fresh crops. People use fresh vegetables every day and include them in many national dishes, such as pilau and dolma. Fresh fruits are served at every family table in Azerbaijan and are often made into fresh punch.
Asif sells his crops at the BIlasuvar central bazaar. His monthly income is 100 AZN. His wife actively helps him to raise his crops. Asif also receives a pension.
As his products are in high demand, Asif wants to expand his business and produce more fruits and vegetables in order to satisfy market demand. For this purpose, he has applied for a loan in the amount of 1700 AZN. He will buy seeds and fertilizers with his loan funds. This will be his third loan and he has a positive loan history.
More information about this loan
This loan is designed for clients residing in settlements for Internally Displaced Persons (IDPs) in Bilasuvar, Azerbaijan. An internally displaced person (IDP) is someone who has been forced to flee his or her home due to armed conflict, violence, human rights violations, or natural or manmade disasters, but who, unlike a refugee, has not crossed an international border (source: UN Office for the Coordination of Humanitarian Affairs). Many of these people have failed to qualify for loans through formal channels due to low income and lack of collateral. By funding this loan, you are creating opportunities and supporting economic development in extremely underserved communities.
About Aqroinvest: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.
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