Kamran K. is 48 years old. He is married with children. He started his own business 12 years ago because his salary as a driver was not enough to meet their family's expenses. Kamran sells candies, cookies and pastries in the local market. The income he generates allows Kamran to support his large family, including his parents, who live with his family. Kamran dreams about providing all of his children with higher education. Today he is requesting 1200 USD for 15 months. He is going to spend the loan to expand the range of goods in his confectionery store. He is planning to spend the income to build a private store, as well as for educating her children. Kamran thanks everyone for their support and promises to repay the loan in time.
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.