Nayil M. is 22 years old. He sells confections such as candies, cookies, pastries, and fruit jelly, as well as products such as soap, hair color, deodorant, underwear, and clothes. He has been in this business for 3 years. He lives with his aging parents who are on pensions now and responsible for his older brothers and sisters.
Nayil requests a loan of US$1200 for the term of 15 months. He is going to use the loan to purchase more items to expand his range of goods. He plans to use his income to purchase a private store, as well as to educate his children. Nayil thanks you for all of your support and promises to repay the loan on time.
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.