Nabil is 46 years old and married, with one son. His wife is a housekeeper. He is a farmer and he does animal husbandry. He raises cows, selling their meat and milk. He has worked in this field for 26 years, has good skills, and his monthly income is AZN 120.
Azerbaijan people prepare different delicious dishes from cow meat, such as dushbere, qutab, kifte, etc. They drink milk, not only in the morning, because it’s tasty and very useful for health. They also use milk to prepare different cakes and cookies.
Nabil wants to expand his small business because his income isn’t enough to cover his family’s demands. He applied for an AZN 2,000 loan in order to improve the condition of his animal husbandry business. This is Nabil's third loan and he has a good client history.
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.