Cingiz is a 54-year-old man who is married with four children. He is a farmer and has been growing seasonal fruits and vegetables for the past six years. During these years, Cingiz gained enough skills and experience to run the business. He chose this crop business because it is profitable and fresh fruits and vegetables are in high demand.
People use fresh vegetables every day and consider them healthy. Many national dishes, such as pilau and dolma, are made with vegetables. Fresh fruits serve every table in an Azerbaijan family and also make fresh punch. Cingiz usually sells his crop in the central bazaar. His monthly income is 100 AZN.
As these products are in high demand, Cingiz wants to expand his business and produce more fruits and vegetables to cover market demand. For this purpose, he applied for a loan of 1,000 AZN. He will buy new garden tools, seeds and fertilizers. This will be his third loan and Cingiz 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.