Mammad is 56 years old, married and has two sons. He is a farmer and has raised seasonal fruits and vegetables for the last 3 years. During these years, Mammad gained enough skills and experience to run the business. He chose this crop business because it is profitable and fresh fruits and vegetables are in high demand.
People use fresh vegetables everyday and consider them healthy. Many national dishes are made with vegetables, like pilau and dolma. Fresh fruits serve every table in the Azerbaijan family and also make fresh punch. Mammad usually sells his crops in the central bazaar and his son helps him. His monthly income is 300 AZN.
As his products are in high demand, Mammad wants to expand his business and produce more fruits and vegetables to cover market demand. For this purpose he applied for 1,500 AZN. He will buy new garden tools, seeds and fertilizers. This will be his 4th loan and he has positive 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.