Elshan is a 50-year-old married man with two children. He sells food products such as macaronis, rice, candies, cookies, sugar and beverages in his shop. Elshan has 10 years of experience in this field, and considers himself a knowledgeable and skilled person.
The food products that he sells are very popular among people and are in high demand. His monthly profit from selling foods is 300 AZN. His son helps him to sell products in shop. He is a very successful entrepreneur because of his good location in the central bazaar of his home city.
Elshan would like to increase his sales and invest additional capital. Therefore, he applied for a loan of 1800 AZN. He will use this loan to purchase and diversify his inventory.
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.