Oktay is a 57-year-old man who is married and has five children. He is a market vendor and sells different kinds of food products in the central bazaar. Oktay has more than 20 years of experience in this field, which means he is considered as a knowledgeable and skilled person.
He usually sells rice, macaronis, yoghurt, ketchup, sugar and other things. The products he sells are in very high demand and people use them in everyday life. Also these products are in very high demand among local people and his monthly profit is 300 AZN.
This business is the only financial income for his family and Oktay would like to increase his sales as well as to cover market demand. For this purpose, he applied for 1,800 AZN. He will use this loan to purchase more products. He has already demonstrated himself as 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.