Qadiraga, 52, has two sons and one daughter. With his son’s help, he sells food products at the bazaar from Sunday to Monday. This is the only source of income for his family. The monthly profit from this business is 180 Azerbaijani Manat (AZN). This profit is used for his family’s needs.
There is insufficient profit to reinvest in the business and cover customer demand. Qadiraga is suffering for this reason. He would like to invest additional capital in the business and increase his sales.
For this purpose, he has applied for a loan of 2,000 AZN to 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.