Malakhat M. is a 57-year-old woman who has been engaged in poultry and cattle breeding for the last two years. She is a very successful entrepreneur who sells chicken, which brings her a stable income.
Malakhat is married and has three children. She is also working as a teacher in a local school but her salary is about $100, which is very low. Poultry breeding is the main source of income in her family.
She also keeps a cow for milk and milk products for her family. Now she is ready to purchase one more cow to start selling milk. For this purpose, Malakhat applied for a 900 Azerbaijan New Manat (AZN) loan to purchase one dairy cow and some chickens. Milk and milk products are very profitable as they in very high demand in Azerbaijan.
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.