Elekber is a cattle breeder with 10 years of experience. He is married and has two children. He usually buys small calves to raise and fatten them. After five or six months, he resells the cattle at the local livestock bazaar. His monthly profit it 300 USD. Cattle breeding is only one source of income for Elekber`s family.
Lending services from AqroInvest CU have fostered the expansion of his small venture. Now he has applied for a 1,000 AZN loan to purchase more cattle and increase his monthly profit. This will allow Elekber to improve the living conditions of his family.
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.