Latif A. is a 60-year-old man who started breeding cattle six years ago when he retired from his work. Latif is married and has five children. He is working as a driver, but his main source of income comes from livestock breeding. He sells milk and milk products to the local people. Now he would like to purchase cattle and fatten them for meat production. He has potential customers who keep butcher shops and meat is in high demand. Latif applied for a loan of 1,000 AZN to purchase three baby calves.
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.