Sadaget K. is 33 years old. She is married with two adorable children. Sadaget and her husband are working hard in order to have sufficient funds for educating their children so that their children become highly employable in the future. Sadaget sells perfume and cosmetics from shelves built on a wall of her house. She has been in this business for three years. Sadaget is dreaming of expanding her business. She wants to enlarge her own store and establish contacts with the suppliers of well-known products. Today Sadaget requests $1,200 US in order to purchase new perfume and cosmetics such as hair color, nail polish, and lipstick to increase the variety of goods in her store. She would like to thank everybody supporting her and promises to repay the loan in a timely manner.
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.