Shahin is a 50-year-old man, married with two children. He has bred cows for the last 10 years. When he was close to pension age, he decided to start his business. With the help of his wife, they purchased their first cattle.
He usually buys small calves, raises and fattens them for 5-6 months, and then resells them 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 and people use it in everyday dishes like pilau and dolma. He 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 this 1,000 AZN loan in order to purchase one milk cow and fodder. This will be his fourth loan, and AqroInvest CU trusts him.
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.