Hafiz M. is 43, married and has 3 children. He started his own business in 1996 because his salary as an engineer wasn’t enough for the family expenses. Hafiz, together with the help of his wife, sells food such as butter, tea, cookies, and pastries, in the local market. The generated income allows Hafiz to support his family. He dreams of educating all of his children with a higher education. Today, he is requesting a loan of 2000 USD that he will use to expand the range of goods he sells. The income he will receive will be spent on the well-being of his family, as well as for his children's education.
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.