Baba is a 41-year-old married man with three children. He is a farmer and has been raising fruits and vegetables for the last 9 years. This is the main source of income for his family.
Raising and selling fresh fruits and vegetables brings stable income and is in high demand among the Azerbaijani people. Fresh vegetables are good for national dishes like pilau and dolma. Fresh fruits are favorites for punch. Baba usually sells his crops in the central bazaar and his profit per month is 300 AZN.
Baba decided to expand his business. For this purpose, he has applied for a 1000 AZN loan. He will buy seeds and fertilizers to increase his crops and cover his customers' demand.
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.