Kamal is 32 years old. He is married and has two children. Kamal is the sole breadwinner, and his only income since 2008 has come from the cultivation and sale of large livestock at the local market. Every year, he buys young calves from the farms in adjacent villages. He raises them with the help of his wife and children and then sells the adult cows and cattle to local butchers.
His monthly income is about $200 USD per month. Kamal would like to expand his business, as the income from his existing herd isn't enough to provide for his family. He plans to purchase additional young cattle. To do this, he needs to invest an additional 1,300 Azerbaijani New Manat (AZN) in his business. This is the second loan for Kamal, and he completely paid the first one on time.
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.