Yagub Q. is 43-year-old man trader who sells home products such as furniture, clocks, kettles, and other items. He started his business more than 10 years ago. Yagub is married and has one child. His profession is cook, and in the second part of the day he is working in the local restaurant. It is not very easy to combine two jobs, but Yagub does everything to keep his family in a good level of life. Yagub applied for $1200 to purchase more goods for his store and will dedicate his time only to sales.
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.