Antiqa is 57 years old, married, and has three sons. She is a market vendor and sells many different kinds of food like macaroni, cookies, candies, tinned food, tea, and beverages like juices, soda and fizzy drinks. She has six years of experience in this field. During this time, Antiqa has acquired the knowledge and skills required for the business.
Antiqa`s merchandise is very popular and brings her a stable income of 230 AZN per month. The products that she sells are very popular and in use in everyday life. For instance tea is the beverage people drink most of all with cookies or candies. The demand is high and Antiqa wants to cover this demand.
For this purpose she applied for a loan of 1,200 AZN to purchase and diversify her food and beverage items in her shop. She has already demonstrated herself 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.