Fezret A. is a 52-year-old butcher. He is married and has three children. Fezret started his business in 1995 and since that time he has gained the respect of his permanent clients. He runs his business in the heart of the central bazaar. Every day local farmers bring him livestock for meat, but Fezret’s working day finishes too fast because he sells all the meat in about four hours. Fezret wants to improve his financial situation by purchasing more meat each day. To do this, he needs more funds, so he is applying for a loan of $1200 USD. You can be a helping hand to Fezret’s business.
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.