Javanshir is a 47-year-old farmer who lives in a small village in the Imishli region with his wife and three children. He breeds sheep and cattle and has 15 years of experience in this field. During these years, Javanshir has acquired the knowledge and skills required for the business. He purchases lambs and calves in the central livestock market and raises them. Sheep raising takes about 3-4 months and cattle breeding takes 5-6 months. After fattening the animals, he resells them for a profit in the Imishli livestock bazaar. Meat is in very high demand in Azerbaijan and people use it in everyday dishes like pilau and dolma. His business requires a lot of physical strength and Javanshir spends most of his time in the open air. His wife helps him to feed the animals.
Javanshir's monthly income is 300 Azerbaijani manats (AZN) and Javanshir wishes to increase it. As meat is in high demand, Javanshir needs more capital to put into his business to cover the market. For this purpose, he applied for a loan of 1800 AZN. He will use the loan to buy 10 sheep, two cattle and one cow. He has already demonstrated himself to be a good client with a positive 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.