Emil is 30 and married with two children. He raises fruits and vegetables in his garden and has been doing it for the last five years. He is a very experienced farmer and has deep knowledge of his land and how to operate it.
Emil usually raises seasonal fruits and vegetables and sells them for a profitable price in the central bazaar. Fresh fruits and vegetables are very popular and in high demand because people prefer to eat them every day and consider them very healthy. Also, one of the favorite national dishes, Dolma, is made of fresh eggplants, peppers and tomatoes. His monthly income from this business is 250 AZN. This is the only source of income in his family.
Now Emil would like to invest more capital in his business and purchase seeds and fertilizers. For this purpose, he applied for a loan of 1,000 AZN. This is the only source of income in his family and hopes this loan will improve the life of his family.
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.