Zahir is a 39-year-old pensioner. He is married and has a son and two daughters. His wife is a housekeeper and brings up the children while the head of family works. He sells fruits (pineapples, bananas, oranges, etc.) at the local bazaar and works in this field for 19 years. His monthly income from selling fruits is AZN 150.
People know that fruits are very useful for health and buy them often. They like to eat them fresh or make different kinds of juice. Local restaurants know that Zahir’s fruits are always fresh and delicious. That’s why they are his constant clients.
Unfortunately, Zahir’s fruit assortment isn’t diverse enough. He has applied for an AZN 2,000 loan in order to deliver more fruits for his greengrocery. This is his third loan, and he has a good 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.