Agamammad M. has been selling sheep and cattle for 10 years. This has helped him move on in his business. He's the father of three children who all need to be fed and provided with the necessary education. He sells sheep to the local butchers and vendors and, once a week, takes them to sell to the livestock bazaar. One of his main needs is the need to purchase more sheep in order to improve his business. For this reason Agamammad has applied for a loan of 1000 AZN to purchase 20 sheep. Previously, he took a loan from AqroInvest through KIVA and he has successfully finished it.
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.