Mirdamat is a 51-year-old man who is married with six children. Mirdamat has been breeding calves and cows for the last 15 years. After several attempts to find a job he gave up and decided to start his business. With the help of his wife they purchased their first cattle.
Mirdamat usually buys small calves, raises and fattens them for 5-6 months and then resells for a more profitable price in the livestock bazaar. His monthly income is about 230 AZN, and this business is the only source of financial income in his family. Beef is in very high demand in Azerbaijan, as people use it in everyday dishes like pilau and dolma. Sahil also keeps milk cows for personal use and for selling to neighbors.
He wants to expand his business and improve the living conditions of his family. He applied for a 1,000 AZN loan to purchase one calf, one milk cow and fodder. This will be his 2nd 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.