Elqun is a 23-year-old single man. He sells food products such as macaroni, butter, cookies, sugar, tea, candies and beverages in his shop. Elqun has two years of experience in this field, which has made him a knowledgeable and skilled person.
Food products he sells are very popular among people and are in high demand. His monthly profit from selling foods is 350 AZN. He is a very successful entrepreneur because of his shop's good location in the central bazaar of his home city. He also keeps cattle.
Since the shop is his main source of income, most of the profit goes to his family and there is not enough left to reinvest in the business. For this reason, he has difficulty covering customers` demands.
Elqun would like to increase his sales and invest additional capital. For this purpose he applied for a 2,000 AZN loan. He will buy more products and diversify his stock. 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.