Zulfali is a 60-year-old, married man with three children. He is a market vendor; specifically, he sells different kind of goods such as flour, beverages, macaroni, butter and candy. He has seven years of experience in this business and therefore has a great deal of knowledge about the market and the demands of customers. Zulfali is a very successful entrepreneur, partly because of his shop's great location in the central bazaar of his home town.
Food products he sells are very popular among the local people and are in high demand. His monthly profit from selling various foods is approximately 300 AZN. His son helps him purchase products and bring them to the shop. He is the sole source of income for his family.
He applied for a loan in the amount of 1,500 AZN to purchase more food products and to diversify the range of goods to satisfy his customers` demands.
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.