Farakhim M. is a 38-year-old trader who sells confections such as candies, chocolate, cookies and other items. He is married and has one adorable daughter who is the meaning of his life.
Farakhim opened his store in 1999, when he could not find any job in his village and his family stayed without any means of subsistence. Farakhim would like to expand his business and purchase more confections for his store, to increase his income and improve life conditions for his family. For this purpose he applied for a loan of $1200 with 15 months for a term. Your generosity will be very helpful.
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.