Ramin is 32 years old and married with three children. Ramin has been breeding sheep for the past ten years. His pension was too small to cover the needs of his family and he decided to start his business. With the help of his wife, they purchased their first sheep.
Ramin usually buys lambs, raises and fattens them for 3-5 months and then resells them at a more profitable price in the livestock bazaar. His monthly income is 120 AZN and this business is only one source of financial income in his family. Meat is in very high demand in Azerbaijan and people use it in everyday dishes like pilau and dolma.
Ramin 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 20 sheep and fodder (feed). This will be the fourth loan from AqroInvest CU 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.