Xirda is 50 years old and not married. She lives with her parents in her own city. She is selling food products such as macaroni, rice, candies, cookies, sugar and beverages. Her brother is helping her in this business. This is only source of income to their family, and from this business her monthly profit is about 150 AZN. She has 8 years of experience in this field.
People in her town are regular customers who purchase food products and other available items at the store. She is a very successful entrepreneur because of her good location in the bazaar of her home city.
Xirda wants to expand her business and to buy more products. For this purpose she applied for 2,000 AZN. She has a good client history and this will be her 2nd loan.
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.