Teymur is 25 years old and single. He sells fruits such as pears, oranges, apples, pomegranates and bananas. Teymur has 4 years of experience in this field and has gained the necessary skills and knowledge required for his business.
Fruits are very popular among Azerbaijan people and in high demand during the year. People like to eat fresh fruit and it is one of the main desserts for guests. Teymur's shop is located in the central bazaar and people always pass his shop and come to buy some fresh fruits. His father helps him to sell the fruits. Teymur's monthly income from his business is 300 AZN.
Teymur wants to expand his business. The amount of products he sells is not enough to cover the high demand. He would like to purchase more fruits and vegetables, increase his turnover and improve his family's life. He has therefore applied for a loan of 1,200 AZN. Teymur has a good client history and this will be his second loan.
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.