Anver M. is 48 years old and is married and with four children. Nine years ago, he started his business of raising cattle. His primary business is with the local restaurants and livestock market. Also during harvest season, Anver works as a taxi driver. He has his own car, which he uses to take local people from one village to another. Despite having two jobs, his business is still quite small and doesn't generate enough income for the whole family. Anver would like to request a loan to expand his business. He will use the profit generated by the business to repay the loan on time. Anver is asking for a loan of 1,200 USD in order to buy more calves to rise. Anver and his family thank you for the loan.
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.