Alizamin 44 years old, married, and has three children. His wife is a homemaker. Alizamin is a popular merchant in his home town, because his shop is located in the center. It is already 10 years that he has been selling food products. From this business his profit is 400 AZN monthly. He sells food products such as macaroni, rice, candies, cookies, sugar and beverages in his shop. His son also helps him in this business.
The profit he earns is not enough to reinvest in his business and to cover customers` demand, so he is suffering for this reason. Being the main source of income, his profit is used for family needs. Alizamin would like to increase his sales and invest additional capital in the business. For this purpose, he applied for a 2,000 AZN loan. He will purchase and diversify foodstuffs to sell at his store. This will be his fourth 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.