Arif is a 38-year-old man who is married and has two children. He has bred cattle for the last 6 years. He is an IDP (Internally Displaced Person). During these years he gained the necessary skills and knowledge for effective management of his business.
Arif usually buys small calves, raises and fattens them for 5-6 months and then resells them for a more profitable price in the livestock bazaar. His monthly income is 90 AZN and this business is only one source of financial income for his family. Beef is in very high demand in Azerbaijan and people use it in everyday dishes like pilau and dolma. Arif also makes home yoghurt and sells it together with fresh milk to his neighbors.
Now Arif would like to buy more animals and for this purpose, so he applied for 2000 AZN. He will buy three calves and two milk cows. This will be his third 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.