Rovshan, age 36, is a tailor. He sews and repairs clothing items to earn an income. He has been engaged in this field for the past 10 years and his monthly income is 180 AZN. He and his wife, who is a homemaker, have a son and a daughter.
Rovshan believes that clothing is one of the most important things in people's lives, a thing that represents them. It must therefore be well-made and clean. When something happens to people’s clothes, they are brought to him for repair. When people need new clothes made, they visit Rovshan and he makes beautiful clothing for them from textiles.
At present, Rovshan’s income is not enough to cover his family’s everyday needs. He has therefore applied for a loan in the amount of 2000 AZN. He will use his loan funds to expand his business and increase his income.
This is his second loan and he has a positive 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.