Hasan is a 53-year-old man who is married with five children. Hasan has bred cattle for the last 20 years. He and his wife raise and fatten cattle.
Hasan usually buys small calves, raises and fattens them for five to six months and then resells them for a more profitable price in the livestock bazaar. His monthly income is 230 AZN. This business is only one source of financial income for the family. Beef is in very high demand in Azerbaijan and people use it in everyday dishes like pilau and dolma.
Hasan wants to expand his business and improve the living conditions of his family. He has applied for a 1,500 AZN loan to purchase two calves, one milk cow and fodder. This will be his third loan, and he has good credit 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.