Mahir Z. is 37 years old. He and his wife raise two children who are studying in school. For the last eight years Mahir has been selling jewelry. Mahir sells oriental style jewelry items. The earrings are very beautiful and people trust Mahir as he is very honest when assessing prices and quality. Mahir`s dream is to build his own shop because rent price is very high.
Mahir wishes to expand his business by increasing his supplies of newer, more modern jewelry items. For this purpose he has applied for a loan of 1200 USD.
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.