Bakir A. is 42 years old and married with two sons. His family consists of five people, including his parents, two sons and wife. To earn a living, Bakir sells food products and has been in this business for eight years. In addition, he raises cattle; currently, he owns a cow to provide milk for his family. These two businesses generate most of the income for Bakir 's family. Already popular in the neighborhood for selling fresh eggs, Bakir, nevertheless, would like to increase the range goods he can offer. Therefore, Bakir is asking for a loan of $1,200 USD for a term of 15 months in order to be able to purchase more food products for sale, as well as improve the life conditions of his family.
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.