Fariz is a 36 year old young man. He is IDP and lives with his wife and one daughter in Bilasuavr IDP Settlement. He breeds cattle and has three years of experience in this field.
Cattle breeding requires a lot of physical activity and Fariz spending most of the time in the open air. Pasturing takes 80% of Fariz`s time. He usually buys small calves, raises and fatten them for 5-6 months and then resells them for more profitable prices in the livestock bazaar. His monthly income is 200 AZN and this business is the only source of financial income for his family. Meat is in very high demand in Azerbaijan and people use it in everyday dishes like pilau and dolma.
Fariz would like to purchase more cattle and for this purpose he applied for 1000 AZN. He needs this loan to increase monthly turnover and cover the needs of his customers.
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.