Amil is a 26-year-old man who sells men's clothes in the central bazaar. He is married and has two children. He finished university and was not able to find a job, that is why he decided to join his brother who already had experience in this field. Five years ago he started his business. His monthly income is 220 AZN. His brother still helps him in choosing good-quality clothes.
He applied for a loan of 1000 AZN to purchase more clothes for sale. This will help him to improve his income and gain more customers. This will be his second loan and he has a good client 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.