Malik is a 57-year-old man, married with two sons. He sells food products such as macaronis, butter, cookies, sugar, tea, candies and beverages in his shop. Malik has 10 years of experience in this field, and he is considered as knowledgeable and skilled. He is a school teacher, but his salary is too small to cover the needs of his beloved sons.
The food products he sells are very popular among people and are in high demand. His monthly profit from selling foods is 100 AZN. He is a very successful entrepreneur because of his good location, in the central bazaar of his home city.
The profit he gains is not enough to reinvest it into the business and his ability to respond to his customers' demand is suffering for this reason. Being main source of income, his profit is used for family needs. Malik would like to increase his sales and invest additional capital.
For this purpose he applied for a loan of 1,200 AZN. He will purchase a a bigger diversity of foodstuffs. This will be his fifth 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.