Xaqani is a 35-year-old man who runs a private business. He is a market vendor, and his primary activity is selling food products. Xaqani sells different kinds of goods such as yoghurt, sausages, candies, cookies, and macaronis. He has been doing this for 10 years. He is responsible for his wife and son.
His business brings him a stable income of 3,500 AZN, and his spouse helps to sell products in the shop. He would like to increase his income, and for this purpose, he applied for a 1,500 AZN loan. He will use this loan to diversify and purchase more products for his shop. This will be his third loan, and he has a good loan 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.