Jhahangir is 43 years old and married with a daughter and a son. His wife is a housekeeper.
He works as a builder and places bricks and mixes cement at a construction site. He has worked in this field for 23 years and has gained good experience. His monthly income is 250 AZN.
Working as builder at a construction site is very hard, consuming work and needs a lot of strength. Local people know that Jhahangir is a very responsible man and does his work properly. They hire him when they need to build or repair a house or other kinds of low-rise buildings.
Jhahangir's income isn't enough to cover his family's expenses. His tools are old, and he can't do his work as efficiently as before.
He applied for a 2,000 AZN loan in order to buy new construction tools for his job. He knows that if he does his job well, he will be paid more than before and will be able to increase his income.
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.