Tofiq B. is 54 years old. He is married with four children. Tofiq has a small café where he sells breakfast, lunch, dinner and tea. Prior to opening his own business, he worked at a restaurant where he learned the ins and outs of the trade. He started his business seven years ago.
When Tofiq first started his business, he only opened to sell tea. Once his place became more popular, he was able to dedicate his whole time to the business.
Tofiq wants the loan so he may invest in tables, chairs, and utensils. He is asking for a loan of 1000 AZN. With this money, Tofiq will be able to expand his business, to earn more profit, and in turn improve family living conditions.
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.