Saida is 42 years old, married, and the loving mother of one child. She dedicates herself to raising and selling cattle. With the income she generates she provides a better quality of life for her family, who are her greatest joy and have become her best friends. She buys calves on the market at a low price, feeds them, and then resells on the same market at a more profitable price. Her monthly income is 250 USD.
Saida is asking for a loan of 1,000 AZN in order to buy more calves to sell when they are fully grown. With this investment she will be able to substantially grow her earnings and improve her quality of life.
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.