Nijat, age 23, sells groceries from his food store in the city of Sabirabad, where he lives. His vending location is well-known for good prices that are lower than market prices. Nijat knows his customers’ preferences and offers only high-quality groceries. He has been in the grocery trade for about three years. His business has been marked with consistent stability. His mother is actively helps him: it was she who brought the idea of opening his own shop.
Nijat is hoping to invest a loan of 1,500 AZN in additional merchandise, which will help him eventually to increase his turnover capital. Nijat has a vision for the expansion of his trade that will be helpful in his entrepreneurial endeavors. The loan will help Nijat to persist, take small steps at a time toward his goal, and achieve success.
Nijat has a good client history and this will be his second loan from AqroInvest.
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.