Mr. Vasif is a vulnerable, low income person. He is 46, married with three children and lives in the village of Saatli town in the south-central flat area of the Azerbaijan Republic in the Caucasus region.
Vasif owns a herd of cattle. Each morning he grazes his herd and then sells beef in the local market of Saatli town. He uses some of his profit margin to buy calves to breed. The income from the four cows he has is too low to support his family, and that is why Vasif decided to increase his number of cattle to increase his income and to provide for all the necessities of his family.
For this purpose he has applied to the Norwegian Microcredit Saatli branch for a $500 loan to buy four calves. In the Caucasus region the price of one calf is about $100. In half a year Vasif can sell one breeded cow for $500.