Raziyya is 34 years old, married, and has two children. She is a market vendor and sells different kinds of goods such as flour, beverages, macaronis, butter, and candies. She has five years of experience, and she has deep knowledge of the market and demand from clients.
The food products she sells are very popular and in high demand. Her monthly profit from selling foods is 100 AZN. She is a teacher in the local school and spends half of each day teaching children. Her mother helps to sell products while she is at school. This is the primary source of income for her family. She is a very successful entrepreneur because of her good location, in the central bazaar of her home city.
She applied for a 2,000 AZN loan to purchase more food products and to increase the variety of goods she offers in order to meet her customers' demand. This will be her second loan and she has 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.