Maqsud is a 45 year-old man who raises cows and sells milk and dairy products. He has 15 years of experience. Maqsud is married and has two children. His wife actively helps him to run the business. He usually sells milk to local vendors as well as to neighbors. His monthly income is 400 AZN.
Milk and yoghurt are the most popular products in Azerbaijan and people use them almost every day. The demand for milk which Maqsud sells is also very high because of the good quality and as it is always fresh. He has applied for a loan of 2,000 AZN in order to purchase three milk cows and increase his milk sales. Maqsud has a good client history and this will be his second loan with Kiva partner AqroInvest CU.
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.