Elchin is 45 years old and lives with his wife and their three children. He started the business as a small store selling chips from his house. Soon, when he saw that demand was growing, he decided to invest some capital to grow the store.
Elchin has eight years of experience in this business. His small store is located in his yard, which is located at his house. His wife helps him to sell products, and from this business his monthly profit is 200 AZN.
Nowadays, Elchin needs 2,000 AZN. He will use the loan to buy the products that sell the best, such as rice, sugar, beans, eggs, dairy products, lunch meats, and other items. This will help him increase his inventory. Sales will increase because the products that customers request will be there when they’re needed. This will allow his family to have more stability in life.
Elchin has a good loan history, and this is his fourth loan.
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.