Elman is 55 years old and married with two children. He is an internally displaced person who lives with his family in the Bilasuvar IDP settlement. He breeds cattle and sells milk and milk products along with cattle to be butchered for meat. Elman also raises sheep. He has more than 10 years of experience in this field and his father taught him how to best look after livestock. He receives 80 AZN in monthly support from the government, but this is too low to cover his family's needs.
Elman usually buys small cattle to raise and fatten over five or six months and then resell for a profit at the local livestock bazaar. He also sells milk and yogurt to his neighbors. These activities bring him 340 AZN monthly as his products are very popular in Azerbaijan. People use meat in everyday national dishes, such as pilau and dolma, and they always use yogurt sauce. Milk products are considered very healthy and are present in everyday life.
Elman is requesting an 1,100 AZN loan to purchase one calf, one milk cow, and fodder. He lacks the income to meet the basic needs of his beloved children. This will be his third loan from AqroInvest and he has 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.