Abulfat is 47 years old. He has two daughters and one son. His wife stays at home. A few years ago, Abulfat decided to open his own business selling the basic grocery items needed in his neighborhood. Today, he is a person who enjoys his neighbors' and his family's respect. He has been in this business for ten years. He sells food products in his shop, such as macaroni, rice, candies, cookies, sugar and beverages. His wife helps him in this business. His monthly profit is 250 AZN. As this is the main source of income, his profit is used for family needs. The profit he earns is not enough to reinvest in his business in order to meet the customers` demand, so he is suffering for this reason. Abulfat would like to increase his sales and invest additional capital in the business. For this purpose, he applied for a 1,800 AZN loan. He will buy and diversify foodstuffs to sell at his store. This will be his second 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.