Iltifat is 56-year-old pensioner. He is married and has a son and two daughters. Iltifat earns money selling carpets and earns a monthly income of 200 AZN.
Weaving carpets is an ancient skill in Azerbaijan. There is no carpet that looks like another one. All of them are unique. People weave them in different sizes with different amazing pictures and beautiful patterns.
People buy carpets not only to cover the floor. Almost every family has a carpet that members use as a wall hanging. This hanging means that the family is respected.
Iltifat's pension and income from carpet selling isn't enough to cover his family's expenses. He applied for a 2,000 AZN loan in order to buy new goods for his shop like pillows, coverlets, and blankets. He wants to widen his shop's assortment of items and increase his income.
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.