Elman is 53 years-old and the married father of four children. His wife stays at home, so he is the only one making an income for the family. For 26 years he has grown fruits and vegetables in his yard and sold them in the bazaar. In this business his wife also helps him and from this business his monthly profit is 100 AZN.
In Azerbaijan, fruit is in very high demand and people like to eat fresh fruit a lot. Besides his fruit he also sells flowers. Elman is really optimistic about the future, regarding the expansion of his business, in order to raise the standard of living of his family.
For this, he has applied for a loan of 2000 AZN. Elman has already taken a loan from Aqroinvest before. He is considered a good customer and this is his third 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.