Valimammad M. is a 45-year-old man who sells women's clothes in the central bazaar in Qiyasli Village. He is married and the only breadwinner for his 8 children.
Valimammad started his business more than 20 years ago and he is very experienced in the last fashion novelties. That’s why the items he buys always sell out very quickly. Valimammad buys clothes from Baku, the capital of Azerbaijan. He goes there very often, because demand is high, but he does not have enough turnover capital to buy all of the clothes that he needs.
With the new loan, he plans to buy clothes once in a month and to purchase more at once, rather than spent a lot of effort, energy and money to make the trip three times each a month, as he usually does. He has applied for 1600 AZN to purchase women's clothes for the spring season and increase his turnover.
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.