Farman is a 40-year-old pensioner. He is married and has three daughters. His wife is a housekeeper. The main source of the family's income is an auto service company, and Farman has 20 years of experience in machinery. His monthly income is 110 AZN.
The demand in auto service is high enough. People use it when they need to repair their car or wash it. Such private auto services are used often. People prefer them because they are cheaper.
Farman wants to repair the auto service place and expand his business. He is planning to increase his monthly income and provide his daughters with higher education and a bright future. He applied for a 2,000 AZN loan in order to buy additional new equipment for his service. This is his fourth loan, and he has a positive client 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.