Maharram is 49 years old and married with two sons. He has bred cattle and sheep for the last 10 years. During these years, he gained the necessary skills and knowledge for effective management of his business.
He usually buys small calves, raises and fattens them for 5-6 months and then resells them at a more profitable price in the livestock bazaar. His monthly income is 220 AZN and this business is only one source of financial income in his family. Beef is in very high demand in Azerbaijan and people use it in everyday dishes like pilau and dolma. He also sells fur because local people make blanket from it.
Now Maharram would like to buy more animals and for this purpose, he applied for a loan of 1,000 AZN. He will buy one cattle and six sheep. This will be his second loan with AqroInvest 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.