Adil is 34 years old, married, and has one son and one daughter. He began his business selling products for household use 5 years ago. His goal is to become independent and to improve the economic condition of his family. His profit from this business is 120 AZN. His son helps him to sell products.
With the aim of purchasing general merchandise and increasing sales, he is asking for a loan due to his lack of capital. He is certain that his investment will allow him to increase his clients and his income.
He has already taken five loans from Aqroinvest in the past. With a good loan history, he has applied for a 6th loan, this time for 2000 AZN. With this money, he wants to buy more products and to expand his business in the future. His good client history is a little proof that he can do this.
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.