Shukufa is a 57-year-old married woman with five children.
Shukufa has bred cattle and cows for the last 15 years. She and her husband live on a pension, which is too small. While they had jobs, they had enough salary and breeding cows was not the primary source of income. However, after retirement living got harder and now breeding cattle and cows has become the primary source of income in her family.
Shukufa 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. Her monthly income is 250 AZN and this business is the only source of financial income in her family.
Meat is in very high demand in Azerbaijan and people use it in everyday dishes, such as pilau and dolma. Shukufa also keeps milking cows for personal use and for selling to neighbors.
She wants to expand her business and improve the living conditions of her family. She applied for a 2,000 AZN loan to purchase three cattle, two milking cows and fodder. This will be her third loan and AqroInvest trust her.
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.