Agakerim J. is 63-year-old farmer, who runs his small business consisting of two cows from which he sells milk. Agakerim lives in Saatli region, in Alisoltanli village, which is situated in the southern part of Azerbaijan. He started his business in 1993, when he purchased his first cow. Together with his wife he started to sell milk and yogurt; this business helped them to improve their life conditions.
Soon after, when they had saved some money, Agakerim purchased another cow. The milk and yogurt is in high demand all across Azerbaijan. Life in the village is become harder and harder every day, because there is much competition in this field. So he had applied for 1200 USD to purchase an additional cow for milk and two calves for meat production. The estimated cost for a cow in Azerbaijan 600-800 USD and for a calf is 200-400 USD.
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.