Telli is 56 years old and widowed with seven children. Telli is an IDP (internally displaced person) and lives in Bilasuvar IDP Settlement. Telli has been breeding cattle and cows for the last four years. When she retired, she was left without her daily bread, as her pension is only 100 AZN. She decided to start her business and with the help of her husband, they purchase their first cattle.
Telli usually buys small calves, raises and fattens them for 5-6 months, and then resells them for a profitable price in the livestock bazaar. Telli`s monthly income is 200 AZN. Meat is in very high demand in Azerbaijan and people use it in everyday dishes like pilau and dolma.
She would like to purchase more cattle and a cow and increase the turnover of business. For this purpose, she applied for 1500 AZN. She will buy three cattle, one milk cow and fodder. She has already demonstrated herself as a good client with a positive credit history.
Aqroinvest Credit Union was founded in 2001 by a group of 32 farmers from Imishli. It has since grown to become the largest credit union in Azerbaijan, owned by its more than 5,400 borrowers and boasting a portfolio of nearly US$12 million.
AqroInvest is focused on providing loans to the following groups of people: rural farmers, people living in distant southern villages with little or no access to finance and internally displaced people and refugees, many of whom lost their homes and livelihoods during the violent conflicts in the 1990s.
In May 2011, Aqroinvest started a new project with Kiva proving higher education loans to students. The project gives students the support and financing they need to continue their education and helps pay for tuition fees at various universities in Azerbaijan. Aqroinvest is the first credit union in the country to offer students loans.