Qiyas M. is 40 years old, married. He was born and lives in the southern Azerbaijani town Imishli. Qiyas owns a store, where he sells bath supplies, laundry powder, soap and shampoos. He started his business in 2000, and, since the business has been going very well, Qiyas decided to expand the variety of products he sells. He has applied for a loan of US$1,200 to make the first bulk purchase of various food products for sale. The estimated total cost of the products he intends to purchase, such as milk, yoghurt, meat products and beverages, is approximatly US$3,500.
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.