Jamaladdin is fifty-five and married with two children. He cultivates fruit and vegetables in his garden and has been doing it for the last twenty-five years. He is a very experienced farmer and has a deep knowledge of land and how to operate it.
Jamaladdin usually grows seasonal fruit and vegetables and sells them for profitable price in the central bazaar. Fresh fruit and vegetables are very popular and in high demand because people prefer to eat them every day and consider them very healthy. Also one of the favorite national dishes of Azerbaijan is Dolma, which is made from fresh eggplant, peppers and tomatoes. His monthly income from this business is 300 AZN. This is his sole source of income for his family.
Now Jamaladdin would like to invest more capital into his business and purchase seeds and fertilizers as well as more fruit and vegetables to sell. For this purpose he has applied for a loan of 1000 AZN. This is the only source of income for his family and so he hopes this loan will improve the life of his family. This will be his second loan and he has a good 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.