Iman is a 50-year-old man who sells milk and breeds cattle. He has 6 years of experience in this field. Iman`s profit from milk sales is about 200 AZN and 100 AZN from cattle sales. Iman applied for 1,500 AZN in order to purchase more cattle and a milk cow. As milk and meat products are most popular, the demand on them is high, and Iman is not able to cover it anymore. Thus he needs additional finances to purchase more cattle, produce more milk and meat and increase his profit. This will be his 5th loan and he has a good credit 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.