Sahil is a 28-year-old man, who is married and has three children. He is an internally displaced person (IDP) and lives in Bilasuvar IDP Settlement. Sahil has bred cattle and cows for the last three years. After several attempts to find a job, he gave up and decided to start his own business. With the help of his wife, he purchased his first cattle.
Sahil usually buys small calves, raises and fattens them for 5-6 months, and then resells them for a profit in the livestock bazaar. His monthly income is 200 AZN and this business is only one source of income for his family. Beef is in very high demand in Azerbaijan and people use it in everyday dishes like pilau and dolma. Sahil also keeps milking cows for personal use and for selling to neighbors.
Sahil wants to expand his business and improve living conditions for his family. He applied for a loan of 1,000 AZN to purchase one milking cow, two calves, and fodder. This will be his fourth loan from AqroInvest CU and he has a good client 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.