Shohrat is a 37-year-old married pensioner and has a daughter and a son. His wife is a housekeeper. He has worked in a small market selling daily products (bread, butter, milk, salt, sugar, sweets, etc.) for 15 years. His monthly income is 130 AZN.
People's demand for daily products is very high. They buy bread, milk, and water daily. They buy other products (salt, flour, sugar, and milk) to prepare daily foods and dishes. Daily products are the kinds of products used in a daily life and that’s why many shelves of the market get empty by the end of the day.
The assortment of Shohrat’s market isn’t varied enough for the region that he works in. He applied for 1500 AZN in order to expand his assortment and supply more products for his market. He is planning to increase the income of his business and repair his old house.
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.