Nazim is 53 years old and married with a daughter and two sons. He is a seller of household appliances (refrigerators, mixers, blenders, irons, etc.) in an equipment shop at local bazaar. His monthly income is 350 AZN and he gets additional earnings from farming at his free time.
People use such household appliances in their daily life and that’s why there is high demand in this area. This is a kind of area where products wear out very fast and costs are expensive. So people try to buy good appliances with long guarantee.
Nazim tries to sell high-quality products for his clients because he doesn’t want to lose them. He applied for a 1,300 AZN loan to order new quality appliances from suppliers and expand his assortment. He wants to increase his income and cover his family’s demands.
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.