Xumar is a 40-year-old woman. She is married with four children. She is an IDP (Internally Displaced Person) and lives in the Bilasuvar IDP Settlement.
Xumar has been breeding sheep and cows for the last ten years. Her husband`s salary is 140 AZN, which is not enough to cover the needs of four children. She decided to start her business, and with the help of her father, who was breeding animals for his entire life, they purchased her first cattle.
Xumar usually buys lambs, raises and fattens them for 3-5 months, and then resells them for a more profitable price in the livestock bazaar. Her monthly income is 900 AZN. Mutton and beef are in very high demand in Azerbaijan and people use them in everyday dishes like pilau and dolma. Xumar also keeps milking cows for personal use and for selling to neighbors.
She wants to expand her business and improve the life conditions of her family. She applied for a 1,500 AZN loan in order to purchase ten sheep, one milking cow, and fodder. This will be her second loan from AqroInvest CU and she 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.