Zergelan A. is 49-year-old married woman who lives with her husband and three children in Otuziki village in the southern part of Azerbaijan, Imihsli town. Zergelan has 6 years of experience in animal breeding; she has two calves and one buffalo. She buys baby calves, feeds them and raises them for meat. Meat is in very high demand and people use it for their meals almost every day. Zergelan now wants to expand her business and would like to start selling milk and yogurt. She is therefore requesting a loan of 1200 USD to purchase one milky cow for 800 USD, a calf for 250 USD and cattle fodder for the autumn season. The estimated cost for a cow in Azerbaijan is 600-800 USD depending on how many liters of milk it can produce; and a calf is 200-400 USD, depending on how many kilograms it weighs.
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.