Mikayil A. is a 45-year-old man who sells magazines, newspapers and other office supplies. He is married and has one daughter. Mikayil pays rent for his shop and he wishes one day to have his own shop. His monthly income is 250-350 AZN. He applied for a loan of 1,000 AZN to purchase more books and magazines for his shop.
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.