Zemfira D. is a 61 year old woman who keeps a small shop. She is married and has five children to whom she wishes to give the very best. This business is the only source of income in her family.
Zemfira has been running her store for 20 years. She sells different kinds of textiles, bath and bed accessories, etc. Zemfira is very dynamic and cares for her family. She tries to give her family as much money as possible to cover the school expenses of her children because her dream of for all of them to be well educated.
Today, Zemfira wants to expand her business and increase her working capital for purchasing new goods to sell. For this purpose, she requests $1,200 to expand her business. Zemfira promises to manage this loan without any violations.
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.