Ibrahim is a 21-year-old single man. He sells food products such as macaroni, croups, sugar, tea, candies and dried fruits in his shop. Ibrahim has two years of experience in this field, which makes him considered a knowledgeable and skilled person.
The food products he sells are very popular among people, and are in high demand. His monthly profit from selling foods is 170 AZN. He is a very successful entrepreneur because of his good location in the central bazaar of his home city. His father helps to purchase wholesale products.
The profit he gains is not enough to reinvest in the business, and covering customers` demand is suffering for this reason. Being a main source of income, his profit is used for family needs. Ibrahim would like to increase his sales and invest additional capital. For this purpose, he applied for 1800 AZN. He will increase and diversify his foodstuffs.
This will be his second loan, and he has a good credit 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.