Kamala A A. is 39 years old, and she sells a variety of goods, such as beverages, flour, pasta, and other items. She started her business in 2005 when hunger knocked at her door. She decided to borrow money from her friends and opened her store. Now she rents her store and dreams of building her own store one day. To reach her dream, she needs additional funds to increase the number of goods she sells. So she is requesting a loan of 1600 AZN.
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.