Xalis is a 43-year-old man, who runs a private business. He is married and has two children. His primary activity is selling food products. He is a market vendor and sells different kind of goods such as yogurt, sausages, candies, cookies, and macaroni for the last 8 years. He is financially responsible for his parents and children.
His shop is located in the central bazaar which is why his products sell very fast. His business brings in a stable income of 170 AZN and his brother helps to sell products from the shop. He would like to increase his income and for this purpose he applied for 1000 AZN loan. He will use this loan to diversify and purchase more products for his shop. This will be his second 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.