Tijarat is 47 years old. He is married and has two children. Tijarat is a market vendor. He has been selling fruit for ten years already. During these years Tijarat has acquired the knowledge and skills required for the business. For instance, he knows how to store the fruits so as to keep their marketable conditions and not to lose their taste and useful properties.
He sells fruits such as apples, peaches and pomegranates, and grapes, etc., in the local central market. In the market he is known among people because of the attractive prices and his characteristic friendliness. All this allows Tijarat’s business to generate a considerable stable income for his family, some 200 AZN per month.
Tijarat’s goods are always in high demand because people in Azerbaijan use fruit in everyday life and especially for punch. For this reason he is planning to purchase more fruit to sell. He is requesting a loan of 1500 AZN that will allow him to expand his business. Tijarat has already demonstrated himself as a good client with a positive credit history.
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.