Shahlar is a 35-year-old man, married with two children. Shahlar has bred cattle for the last 8 years. After several attempts to find job he gave up and decided to start his business. His wife is a school teacher and her salary is too low to cover family needs. Hence, Shahlar`s business is their main financial income.
Shahlar usually buys small calves, raises and fattens them for 5-6 months and then resells for a more profitable price at the livestock bazaar. His monthly income is 60 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. Shahlar also keeps milking cows for personal use and for selling to neighbors.
He wants to expand his business and improve life conditions of his family. He applied for a 1200 AZN loan to purchase two cows and one milking cow. He promises to pay on time without any delays.
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.