Eyvaz is a 51-year-old, married man and father of two children. His wife stays at home and doesn’t work. Ten years ago he started his business, to improve his living and develop his financial situation. Now he sells fruit and vegetables, in a store. Eyvaz is well-known in the region, with his competitive prices and products. His profit monthly is 150 AZN. There is a big demand for fruits and vegetables in Azerbaijan. Because of that, he must expand his business.
Now, he needs a 2,000 AZN loan. Eyvaz is requesting a loan, so that he can invest in the purchase of more fruits and vegetables to sell at his business. He believes this investment will improve his level of sales and his family’s quality of life. 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.