Vijay is 30 years old man, married and the father of two children. For the last eight years, he has earned a living by breeding cattle. After several attempts to find job, he gave up and decided to start his business. He buys calves when they are still small, then raises and fattens them for 5-6 months before reselling them in a local livestock bazaar. His monthly income is 1,000 AZN and his business is the only source of income for his family. Beef is in very high demand in Azerbaijan because people use it in everyday dishes. Vijay wants to expand his business and improve his family's living conditions. He has applied for a loan for 1,500 AZN loan to buy two calves and a cow that will produce milk.
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.