Ilham H. is 44 years old. His wife is a housekeeper, and they have two sons. Ilham’s children are small now, but already he is working hard to ensure a good future for them. Ilham sells pastries, cookies, candies, condensed milk, tea, canned meat, mayonnaise, and other foodstuffs in his store. He has been in the business for more that 15 years and has many loyal customers. His business is his family's main source of income. He is requesting a loan of $1200 USD for the term of 15 months. He will use the loan to upgrade and enlarge his stock, which will enable him to increase his income. Ilham thanks you for your support and promises to repay the loan on time.
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.