Oqtay Q. is a 56-year-old man living in Sabirabad. He is married and has three sons aged 23, 22 and 19. Oqtay owns and runs an electrical goods and destined-for-dowry (housewares) store. He mainly sells to the local community.
Oqtay has been in the trading business for over ten years and earns approximately 500 AZN per month. He successfully repaid a prior loan taken out from AqroInvest. Oqtay is a hard-working man and wants to expand his business and earn more income. For this reason, he requested a new loan of 1,600 AZN from AqroInvest and Kiva. He used this loan to diversify his inventory and enlarge his store. Oqtay plans to use all of his profits to improve and expand his business.
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.