Hafiz is 58 years old and married with four children. He began his business working to sell products for household use 15 years ago. His goal is to become independent and to improve the economic condition of his family. His profit from this business is 190 AZN. His son helps him sell products.
With the aim of purchasing general merchandise and increasing sales, he is asking for a loan due to his lack of capital. He is certain that his investment will allow him to increase his clients and his income.
He has already taken five loans from Aqroinvest in the past. With a good loan history, he has applied for his sixth loan, this time for 1800 AZN. With this money, he wants to buy more products and to expand his business in the future. His good client history is a little proof of this.
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.