Bahram is a 32-year-old man. He is a friendly and well-mannered person. He is married and is a loving father of three sons. He has been involved in food sales for more than nine years. These nine years of experience in this field make him a knowledgeable and skilled person.
The food products he sells are very popular among people and are in high demand. His monthly profit from selling food is 350 AZN. His wife helps him with selling products in the shop. He is a very successful entrepreneur because of his good location, in the central bazaar of his home city.
Bahram would like to increase his sales and invest additional capital. For this purpose, he has applied for 1,500 AZN. He will purchase and diversify into selling additional foodstuffs. This will be his second loan and he has 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.