Garatel is a 52-year-old woman on a pension. She is married and has a son and a daughter. Her main source of income is agriculture (gardening). Garatel grows fruit trees (pear, peach, apple, pomegranate, cherry and so on) and sells the fruit at the local bazaar. She has skills from 30 years in gardening and gets 150 AZN for work.
In Azerbaijan, the people's demand for fruit is very high. Throughout the whole year, they buy fruits for everyday use. They eat fruits fresh or prepare different tasty and sweet things.
This is the first loan borrowed by Garatel and it is for 1300AZN. Unfortunately, Garatel’s income from gardening and her pension isn’t enough to cover life's demands. That’s why she needs more money. Garatel plans to use her profits to provide for her children’s education and improve the family maintenance.
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.