Yusif is married and has 4 children, two daughters and two sons. It is very hard to keep so large a family under normal conditions. He pays a very high rent on the place he sells out of and his earning per day amount to about 20 USD which is very low. He pays more than 50% of his earnings for rent. He has applied for a loan in the amount of 1200 USD to purchase more goods to sell and build his own shop where he can make more income without paying high rent. Yusif is a repeat client for AqroInvest as he successfully repaid his first loan.
About Aqroinvest: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.
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