Tofiq is 52 years old and a very kind and friendly man. He is married and has one son. He has been raising sheep for the last ten years. He sells them for mutton, which is very popular among local people. Many popular dishes like dolma and pilov are made of mutton. People consider it to be very healthy and digestible.
Tofiq usually buys small lambs, raises and fattens them, and sells them for a profitable price. His monthly income is 200 AZN and this is the only income in his family. Keeping the family and covering the needs of his child is a very hard job.
Also, looking after animals is much harder and requires spending a lot of time outside. The climate in the region is harsh, but Tofiq is a very positive man and hopes to earn enough to provide a better life for his beloved child.
He applied for a 1,200 AZN loan in order to purchase fifteen sheep to cover his market demand. As summer is very close, it is a good time to fatten lambs and sell them for profitable prices for wedding parties, of which there are a lot during this season. This will be Tofiq’s second loan and he has a positive 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.