Elman is a 35-year-old married man and father of 4 children. Last year he changed his business and now he is selling food products in his own store. He is satisfied with his business. Elman is a popular merchant in his home town because his shop is situated in the center. From this business his profit is 400 Azerbaijanian Manats (AZN) monthly.
He sells food products such as macaroni, rice, candies, cookies, sugar and beverages in his shop. His son also helps him in this business.
The profit he gains is not enough to reinvest it his business and to cover customer demand, so he is suffering for this reason. His being the main source of income, his profit is used for the family's needs. Elman would like to increase his sales and invest additional capital. For this purpose he applied for 2000 AZN. He will purchase and diversify additional foodstuffs. This will be his fourth 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.