Mahir I. is 51 years old and he makes a living buying and selling livestock. He's married with three children. Over the years, he has become very knowledgeable about what is required to raise cattle, their feeding, their calving, etc. He sells cattle to the local farmers and butchers. His monthly income ranges between about $315 and $415.
Now Mahir has applied for 1,000 AZN in order to purchase more cattle and increase his income. The loan will greatly improve Mahir’s income and his family's standard of living.
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.