Akif, a 53-year-old man, is married with three children. He sells construction materials wholesale. He has 12 years of experience in this field. Construction materials made of wood are quite expensive and, at the same time, are in high demand among local people.
Akif's sales place is located in the central Saatli bazaar. Akif`s customers always come to Akif to buy materials, and he is always ready to make a discount. He serves people not only from his home city but also from neighboring villages and cities.
Akif`s business brings in a stable income of 160 Azerbaijani manats (AZN). He applied for a 1400 AZN loan to purchase more materials and cover customers' demand. He has already demonstrated himself to be a good client with a positive credit history.
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.