Asif is a 33-year-old man, married with two children. Asif is a market vendor and sells different utensils for the home, such as kettles, tableware, electric accessories and so on. He has four years of experience in selling these goods. His shop is located in the center of the local bazaar and it is the most visited place. Hence, people very often pass his shop and make purchases.
His monthly income is about 90 AZN, but he would like to increase it. For this purpose he applied for 1,200 AZN and will use the loan to buy more products to cover his customers` demands. 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.