Firdovsi is a 30-year-old man, and married with two children. He raises fruits and vegetables in his garden and has been doing it for the last 4 years. He is a very experienced farmer and has deep knowledge of the land and how to operate it.
He usually raises seasonal fruits and vegetables and sells them for a profitable price in the central bazaar. Fresh fruits 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, dolma, is made of fresh eggplant, peppers and tomatoes. He sells crops in the central bazaar and the monthly income from this business is about 150 AZN. This is the only source of income in his family. His wife helps him to raise crops and look after the land.
Now Firdovsi would like to invest more capital in his business to purchase seeds and fertilizers. For this purpose he applied for 1,200 AZN. Since this is the only source of income in his family, he hopes this loan will improve their lives. This will be his fourth 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.