Babek A. is a young and energetic man of 23. He is single and lives with his parents who are on pension now. Babek has been running a store for the last two years, which is the main source of income for the family. He sells different kind of goods such as tooth paste, soup, cosmetics, deodorants, and other items.
Babek finished his studies at the university, but he could not find a job appropriate to his profession. His father gave him a small amount of money to start his own business. Babek took the opportunity to start selling products in high demand among the local people. Now he has about 2000 USD of stock in his store. Babek wants to start his own family this year, so he needs to increase his income. Babek has applied for a 1200 USD loan for the term of 14 months. He appreciates your help.
About Aqroinvest: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.
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