Narman A. is a 40-year-old trader who has sold products for the home and electrical goods for the last three years. He is married and has two children.
He started his business with some savings and a year ago, he was able to build his own shop. His monthly income is about 250-350 Azerbaijani New Manat (AZN) and he is going to increase it to 500-600 AZN. Narman applied for a 900 AZN loan to increase the number of items he sells. He believes this loan will help him to improve the living conditions of his family.
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.