Shaiq Q. has a little shop where he sells different kind of food and goods for the home. He started his business 1995. Shaiq is married and has 5 daughters. He loves his daughters and wishes to give all of them the best education he can. He is a very cheerful person, and he is always glad to meet anyone who comes into his shop. All his clients are satisfied with his service. Shaiq tries to make his assortment of food products more competitive. In the near future he dreams of expanding his business and buying more foodstuffs. Right now, however, he is requesting 1200 USD. This loan will be an important part of the growth of Shaiq’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.