Anvar is 53 years old and married with five children. Anvar has been breeding cattle for the past 20 years. After several attempts to find a job, he gave up and decided to start his business. With the help of his brother, they purchased the first cattle.
Anvar usually buys small calves, raises and fattens them for 5-6 months, then resells at a more profitable price in the livestock bazaar. His monthly income is 180 AZN and 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, such as pilau and dolma. Anvar also keeps milking cows for personal use and for selling to neighbors.
Anvar wants to expand his business and improve the living conditions of his family. He applied for a 2,000 AZN loan in order to purchase two cattle and two milking cows. This will be his third loan and he 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.