Xudakarim is a 53-year-old man and is married with two children.
Xudakarim has bred calves and cows for the last 10 years. His pension was too small to cover the needs of his family and he decided to start his own business. With the help of his wife, they purchased their first cattle.
Xudakarim usually buys small calves and raises and fattens them for 5-6 months, then resells them for a more profitable price in the livestock bazaar. His monthly income is 230 AZN and this business is the only source of financial income in his family.
Beef is in very high demand in Azerbaijan and people use it in everyday dishes, such as pilau and dolma. Xudakarim also keeps milking 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 1500 AZN loan to purchase two calves, one milking cow and fodder. This will be his third 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.