Rovshan is 30 years old, married, and his wife is a housekeeper. He earns money selling fruit (apples, bananas, oranges, quince, persimmon, feyhoa, lemons, grapes, figs, etc.) and greens at a local bazaar. His monthly income is 300 AZN.
Azerbaijan people like fruit very much. Their demand for fruit is high because they know that fruit is useful for health. For example, if someone catches cold or cough he drinks hot milk with a dried fig to recover. Beside that, they prepare different kinds of fruit pies, juices, and cakes for daily dessert or holidays.
Rovshan applied for 1500 AZN loan to expand his small business. He wants to order vegetables from suppliers in addition to fruit and build his own little grocery in future.
This is his third loan and he has a positive 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.