Aladdin H. is 46 years old. He is married with three children. His wife looks after the house and the kids. Aladdin supports his family by breeding cattle, which he sells for meat. He started his business in 1982 when he was very young. Cattle-breeding is the main source of income for the family and generates the income necessary to allow Aladdin to support his family and improve their living conditions. Now he has applied for a 1200 USD loan, which he is planning to use on purchasing one milking cow for 600 USD and two calves for 300 USD each.
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.