Nigar is a 30-year-old single woman. She sells food products in the bazaar. She has been in this business for two years. She lives with her parents, who help her, because Nigar's work is the only income in the family. Her father also helps her in this business.
The food products that Nigar sells are very popular among people and in high demand. Her monthly profit from selling foods is 180 AZN. She is a very successful entrepreneur because she is in a good location in the central bazaar of her home city.
Nigar is now requesting a loan in the amount of 2,000 AZN to expand her business in the future. She has a good credit history, and this is her fifth loan.
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.