Jafar is a 55-year-old man, married with one daughter. He sells food products such as macaronis, butter, cookies, sugar, tea, candies and beverages in his shop. Jafar has about 10 years of experience in this field, which considers him as 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 130 AZN. He is a very successful entrepreneur because of good location, in the central bazaar of his home city. The profit he gains is not enough to reinvest into the business and covering customers' demands is suffering for this reason. Being the main source of income, his profit is used for family needs. Jafar would like to increase his sales and invest additional capital. For this purpose, he applied for 1,500 AZN. He will purchase and diversify additional food stuff. This will be his second loan and he has 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.