Elshad is a 43-year-old man, married with two children. He keeps a café and serves people with launch and dinner in his café. He has eight years of experience. He decided to start his own business because his income as foreman was not stable and was very low. Now he runs his business and serves people with daily meals in his café.
People in Azerbaijan like to have launch in national style cafes and eat national food, as well as spend time with friends in the evening drinking tea with homemade jam. Elshad's place don’t look very attractive, but his food is delicious and that’s why his café is full of people. His older son helps him and cooks in his café.
His monthly income is 200 AZN and he would like to increase it. For this purpose he applied for a loan of 1,500 AZN. He will use this loan to renovate his café. This will be his third loan and he 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.