Akif is 51 years old. He is married and has three children. He is a market vendor and sells different types of food items. The most popular items he sells include candies, sausages, macaroni, tinned food and juices. Akif has seven years of experience selling food items and, during this time, he has acquired the necessary skills required to be successful. His monthly income is 200 AZN. His elder son helps him to sell in the shop.
Akif would like to diversify his product offering and purchase more merchandise. This will help him increase sales and improve his family’s living conditions. In order to do this, he needs additional capital and he has applied for a loan of 1,500 AZN. This will be Akifs fourth loan and he has perfect credit history.
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.