Firuz is a 27-year-old man who runs a private business. He is married and has one son. His primary activity is selling food products. He is a market vendor and has been selling different kinds of goods such as yoghurt, sausages, candies, cookies and macaronis for the last 8 years.
His business brings him a stable income of 150 AZN, and his older son helps to sell products at 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 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.