Qabil S. is 41 years old and married with three sons. Qabil is a hard-working man who is running a cattle breeding business. He started his own business as a source of additional income and savings in case of unemployment. He is also working as a teacher in the local school, but the salary is too small even to cover the monthly basic needs of his family. He knew many people who purchased cattle, and this motivated him to start his own business 16 years ago.
Over time, he has increased his cattle sales and he is proud to say that the business has been running well, but he now needs additional capital to expand his business. Therefore, Qabil is requesting a loan in the amount of $1,200 to purchase four additional cattle to sell. More specifically, he will reinvest the loan proceeds and grow the business, as he has been doing.
He and his family thank you very much for the support that you offer them in helping to expand his business and helping them give their children a better quality of life.
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.