Nasimi chose this business because it is very profitable and he has gained permanent clients over the years. He is friendly, polite and always gives a discount. Nasimi says the secret of his success is his shop's location, on the central bazaar. Nasimi's monthly income is 230 AZN, which is not enough to cover his family's needs. He has applied for a loan of 800 AZN to expand his business. He will use this loan to purchase new merchandise and diversify. He has good credit history and this will be his second loan.
About Aqroinvest: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.
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