To earn a living, he sells fruits such as pears, oranges, apples, pomegranates, and bananas. With the help of AqroInvest CU, Sadiq was able to start his own business when he was unemployed and experiencing difficult living conditions. He has one year of experience in this field.
He explains that fruits are very popular among Azerbaijan people and in high demand during this time of year. People like to eat fresh fruits, and fruits are one of the main dessert options for guests. His shop is located in the center bazaar, so people constantly pass by his shop and stop to buy fresh fruit. His monthly income from this business is approximately 250 AZN. Sadiq's father helps sell the fruit.
Sadiq now wants to expand his business. The amount of products he sells is not enough to cover the high demand. As a result, he would like to purchase more fruits and vegetables and increase his turnover, which would in turn improve his family's living conditions. For this purpose he applied for a loan in the amount of 1,500 AZN. This would be his second loan, and he explains that he has a good record of repaying loans.
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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