Sakine N. is a 43-year-old beloved mother of four children. She rents a place in the local bazaar of the Sabirabad region. She has been running her business for eight years, selling galoshes and tights. Galoshes are very popular among farmers, especially in rural places and for people who seed. They are very comfortable during the raining season.
The business is successful and generates a stable income allowing Sakine to contribute considerably to the family budget. As hers is the only source of income for her family, she needs to expand her business and so she has applied for a loan of 1000 USD. She will use this loan to purchase different socks and shoes. She would like to thank everybody who made the decision to support her.
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.