Kamala, age 43, is a widow with two children. She has been running a grocery store for the past eight years. She has gained a great deal of experience during this time and her son helps her in the business. Her profit from this business is 180 AZN. This will be her third loan from Aqroinvest, and she has a good loan history.
Due to dwindling business capital, Kamala's business profit has recently decreased as her goods reserve has drastically declined. She has applied for a loan in the amount of 1,800 AZN in order to purchase foodstuffs in large quantities. As a result, she will be able to continue to sell foodstuffs without worrying about an inventory shortage.
Kamala is a very hard-working individual who strives for a better future.
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.