Kamala, age 41, sells food products such as tea, sugar, and sweets, as well as common household items in her market shop. She has been engaged in this business for the past five years. She is a very hard-working woman and knows her business by heart. She has good relationships with her neighbors and clients, many of whom buy products daily from her market.
Kamala is unmarried and lives with her parents, who are in ill health. She divides her time between taking care of her parents and managing her store. Thanks to her business, she generates the income necessary to support the family. Her monthly business profit is 170 AZN. She loves her work and puts her heart into it.
At present, Kamala does not have enough funds to buy many needed inventory items for her store. For this reason, and because she has a good loan history, Kamala is requesting her fifth loan from Aqroinvest. Repaying this loan is her top priority, as is evidenced by her positive loan history.
With her loan funds of 1,900 AZN, Kamala will invest in her business by buying a variety of products to offer for sale.
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.