Elmir A., 20 years old, is the only bread-winner in his family. Since 2005, Elmir has been running his own office supply and slipper sales business, based in a rented place next to his house. He competes effectively with the big stores in the vicinity by offering prices that are more attractive. As a result, Elmir's business so far has been very successful. At present, he needs a loan of US$1,200 for a term of 15 months to be able to expand the business by purchasing additional office supplies for sale.
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.