Mazahir is a 49-year-old man who is married and has three children. He is a market vendor and sells different kinds of food products in the central bazaar. Mazahir has 15 years of experience in this field, which makes him a knowledgeable and skilled person.
He usually sells rice, macaroni, yogurt, flour, butter, sugar and others. Products he sells are in very high demand and people use them in everyday life. Also, these products are in very high demand among local people and his monthly profit is 120 AZN. His spouse helps him to update the merchandise in his shop.
This business is the only one financial income for his family and Mazahir would like to increase his sales, as well as cover market demand. For this purpose, he applied for a loan of 1,500 AZN. He will use this loan to purchase more products. This will be his third loan and he has a good client 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.