Abbasali Z. is a 25-year-old, single man. Abbasali has a food store where he sells different kind of goods such as candies, cookies, tea, macaronis, washing powder, matches and other goods. He proudly states that he has been in this line of business for two years. The income he is able to generate from his business allows him to support his family (he is the sole breadwinner for his parents). Abbasali purchases his goods from a neighboring city. He is requesting a loan in the amount of $1200 USD over a 15-month term, the proceeds of which will be used to expand his inventory of goods (i.e., he plans to purchase additional confectionaries). Abbasali thanks everyone for their support, and he promises to repay his loan on time.
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.