I. Ali is 55 years old. He is married and has two children. He is the sole breadwinner for his family, and his only income comes from raising and selling sheep and large livestock at the local market. Every year, he buys young heifers and sheep from farms in adjacent villages. He raises them with the help of his sons and then sells the adult cows and bulls to local butchers.
Ali is thinking about expanding his business because the income from his present herd is not sufficient to provide for his family. He plans to purchase more lambs. To do so, he needs to invest an additional 1000 AZN in his business. In order to obtain this amount, he has applied, for a second time, for a loan from Kiva. Ali has a good client history and has successfully finished his first loan.
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.