Zumrud is a 47-year-old woman, who is married with two children. She is a market vendor, and sells different kinds of goods such as flour, beverages, macaroni, butter and candies. She has five years of experience, and has a deep knowledge of the market and demand of clients. Her pension is not enough to cover basic needs, and she decided to start her own business.
The food products she sells are very popular among people and are in high demand. Her monthly profit from selling foods is 200 AZN. Her husband helps to purchase products and bring them to the shop. This is the sole financial income for her family. She is a very successful entrepreneur because of a good location in the central bazaar of her home city.
She applied for a 1500 AZN loan to purchase more food products and to diversify her range of goods to cover customers` demand. This will be her second loan, and she has a good client 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.