Tofiq is 60 years old, married and has seven children! He breeds cattle for milk and meat purposes. Tofiq has 20 years of experience in this field. He is an internally displaced person (IDP) and lives in Bilasuvar IDP Settlement. The income his business generates is 150 AZN per month. Meat and milk are the most popular products in Azerbaijan and to meet customer demand, Tofiq want to buy more cattle. For this purpose, he applied for a 1500 AZN loan. It will be his second loan from AqroInvest CU and he has a good client history.
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.