Safadur is a 60-year-old man, married with 10 children! Safadur has been breeding calves and cows for the last 10 years. After he retired, he decided to start his own business because his pension was too small.
Safadur 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 140 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.
He wants to expand his business and improve the living conditions of his family. He applied for this 1,500 AZN loan in order to purchase two calves, one milk cow and fodder. This will be his 4th 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.