Elyas is a 50-year-old farmer who raises and sells seasonal fruits and vegetables. He sells crops in the local bazaar. His monthly income is 200 AZN, and this is the sole financial income for his family. Elyas has 10 years of experience in farming. Now he thinks it is time to grow and he would like to get ahead in satisfying customers' demands. He would like to purchase more seeds and organic fertilizers in order to have more crops for next spring. For this purpose, he applied for an 1,000 AZN loan.
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.