Yasaman is forty-nine years old and a single woman. She is a market vendor and sells detergents, cosmetics such as as deodorants, perfume, soaps, shampoo and souvenirs. She has five years of experience in this field, which makes her a knowledgeable and skilled person in her area.
The products she sells are very popular among women. Yasaman is always friendly and polite with her customers, which make her business successful. Her monthly profit is 400 AZN. As this business is her only financial source of income, Yasaman's father helps her with her business.
Yasaman would like to expand her business and purchase more merchandise and diversify the range of products she sells. For this purpose she has applied for a loan of 1500 AZN. She has positive loan history and this will be her third loan, which she promises to pay back on time.
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.