Khamidov S. is a 35-year-old butcher who keeps his own store. He started his business in 2001 and since that time he has been able to accumulate income to purchase his own store. Meat selling is a very profitable business because meat it is in very high demand among Azerbaijani people.
S. is married and has two children. His dream is attached to both his children. He dreams of providing them with better education and for this purpose he is already making some savings.
But to both keep his family and make savings is not easy and so he decided to expand his business. For this purpose he applied for a $1500 loan to increase the amount of meat he sells in a day.
Aqroinvest Credit Union was founded by a group of 32 Imishli farmers in 2001, and has grown to become one of the largest credit unions in Azerbaijan. It boasts a portfolio of nearly $5 million and is wholly owned by its more than 3,500 borrowers, as of December 2011.