Nadir M. is a very hard working man who comes from Imishli city. After having been rejected for various jobs he decided to start his own business providing wrought iron services. He started it five years ago. The good service that he offers has brought him a lot of clients and now he employs someone to help him meet his clients’ needs. His monthly income is about $500 - $750. His primarily orders are iron doors and window security bars, which are very popular among Azerbaijani people.
Nadir’s desire is to keep growing, and in order to do this he is asking for a loan of 1,000 AZN to refurbish his shop and to buy some equipment. In this way he can improve the quality of service that he offers so that his business can continue to grow.
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.