Nemat is a 38-year-old man, and he is married with two sons. He raises and sells fruits such as pears, oranges, apples, pomegranates, and bananas. Nemat has 8 years of experience in this field and gained the necessary skills and knowledge required for his business. He also works as a laborer and participates in construction; however, this job is not permanent and brings low income.
Fruits are very popular among Azerbaijan people and in high demand throughout the year. People like to eat them fresh and this is one of the main desserts for guests. Nemat's shop is located in the center bazaar and people always pass his shop and come to buy some fresh fruits. His monthly income from this business is 100 Azerbaijan New Manats (AZN).
Nemat wants to expand his business. The amount of products he sells is not enough to cover the high demand. He would like to purchase seeds and fertilizers to increase his turnover as well as to improve life of his family. For this purpose he applied for a loan of 1000 AZN.
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.