Alovsat is a 35-year-old man who runs a private business. He is a market vendor and his primary activity is selling food products. Alovsat sells different kind of goods, such as yogurt, sausages, candies, cookies and macaroni for the past 20 years. He is responsible for his wife and three children.
His business brings him a stable income of 100 AZN and his spouse helps to sell products from the shop. Alovsat would like to increase his income and for this purpose he applied for 1,500 AZN. 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.