Anar is a 25-year-old client with 2 children. His business is a small grocery store.
He requires the loan to purchase butter, rice, beans, sugar, water, milk, eggs, coffee, bread, biscuits, soft drinks, etc. With the loan and the increased inventory available in his store, he hopes to increase sales and to be able to take better care of his customers.
He hopes to meet his basic needs and to improve his family's quality of life. He hopes his business continues to grow and that, in a few years, it becomes one of the largest and most well-known grocery stores in the district. He also wants to continue supporting his children so that they grow up to be good people with better opportunities in life.
He has already taken 3 loans from Aqroinvest in the past. With a good loan history, he has applied for a 4th loan of 1500 AZN. With this money, he wants to invest in the business and buy more products in order to generate more revenue.
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.