Nahid is 26 years old and married. He is an IDP (internally displaced person) and lives with his family in Bilasuvar IDP Settlement. He sells different kinds of products. He sells foodstuffs like candies, cookies, butter, and macaroni as well as hair coloring and some cosmetics stuff. He has five years of experience in this field and gained the necessary skills and knowledge for business.
The products he sells are very popular in Azerbaijan and sell out from his shelves. Nahid`s business brings him 300 AZN profit. It is hard to keep satisfied customers with this income, because Nahid needs to make some savings and can’t put all the income back into the business again. This is the only financial source for his family.
He needs to expand his business and for this purpose, he applied for a loan of 1,500 AZN. He will use the loan to purchase more merchandise for his shop. This will be the third loan from AqroInvest CU to Nahid and he has a good client 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.