Rovshem N. is 42-year-old man who lives with his two children in the southern part of Azerbaijan Imshli region. He has been running his business since 2003. He has one cow, which brings him income from milk and yogurt. The milk products are in high demand all across Azerbaijan and Rovshem is planning on expanding his business and purchase two additional cows. The estimated cost for one cow is 700-800 USD. Therefore, he is applying for a loan of 1200 USD and has saved 200 USD from his income to pay for these.
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.