Mokhtabar A. lives in Sabirabad, Azerbaijan. He is 47 years old, married, and has five children. Mokhtabar is the sole provider for his family and earns his living by raising and selling livestock. He purchases young calves from local villagers, raises them for 5-7 months, and then sells the adult cows and bulls to local butchers. Mokhtabar is thinking about expanding his business, because his current earnings are not enough to provide for his family. He wants to purchase more calves and fodder. He is requesting a loan of US $1,200 for the term of 15 months. Mokhtabar appreciates your helping him so that he can move forth successfully and accomplish all his goals.
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.