Firengiz is a 55-year-old women who is married with one daughter. For the past 20 years, she has been a vendor who sells different kind of goods, such as candy, cookies, butter, macaroni, and beverages, in her shop. Firengiz considers herself to be a knowledgeable and skilled person. The products she sells are very popular in Azerbaijan and quickly leave her shelves. She makes 200 AZN profit.
Firengiz is requesting a 1,000 AZN loan to purchase more merchandise for her shop. This will be her second loan and she has a good client history. Firengiz hopes to expand her business.
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.