Faila is a 47-year-old married woman who owns a small farm. She is a hard-working woman who has fought to provide her family of three children with better living conditions. Today, one of her children is a working adult thanks to her example.
Faila has been running a business raising and selling cattle. She has six years of experience in this field. Since cattle raising and selling is a profitable business, Faila has become a very successful businesswoman in a very short period. She works very hard and spends all her time with her animals, cleaning them, feeding and pasturing them. Her husband and 15-year-old daughter help her to look after the animals.
Now Faila wants to expand her business and buy more cattle. So she applied for a loan of 1000 AZN. Faila promises to repay on time.
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.