Elshen is 23 years old. He is single and lives with his parents. He sells food products such as macaroni, butter, cookies, sugar, tea, candies and beverages in his shop. Elshen has 5 years of experience in this field, which makes him as knowledgeable and skilled person in his business.
The food products he sells is very popular among people and are in high demand. His monthly profit from selling food is 130 AZN. His father helps him to sell products in shop. He is a very successful entrepreneur because of the good location of his shop in the central bazaar of his home city.
But the profit he earns is not enough to reinvest into the business and covering his customers' demand is suffering for this reason. Being the only source of income, his profit is used for family needs. Elshen would like to increase his sales and invest additional capital. For this purpose, he applied for 1000 AZN to purchase and diversify his inventory of foodstuff.
Aqroinvest Credit Union was founded in 2001 by a group of 32 farmers from Imishli. It has since grown to become the largest credit union in Azerbaijan, owned by its more than 5,400 borrowers and boasting a portfolio of nearly US$12 million.
AqroInvest is focused on providing loans to the following groups of people: rural farmers, people living in distant southern villages with little or no access to finance and internally displaced people and refugees, many of whom lost their homes and livelihoods during the violent conflicts in the 1990s.
In May 2011, Aqroinvest started a new project with Kiva proving higher education loans to students. The project gives students the support and financing they need to continue their education and helps pay for tuition fees at various universities in Azerbaijan. Aqroinvest is the first credit union in the country to offer students loans.