Farayil, age 52, breeds livestock to earn a living. He learned this business at a very young age from his father, who had much experience and taught him well. During those years, Farayil acquired the knowledge and skills required for the business.
He purchases calves in the central livestock market and raises them. After fattening the animals, he resells them for a profitable price at the livestock bazaar. Meat is in very high demand in Azerbaijan and is used in many local everyday dishes, such as pilau and dolma.
Farayil's business requires a lot of physical strength, as he spends most of his time in the open air. He and his wife have three children, and his son helps him to feed the animals.
His monthly income is 300 AZN and Farayil wishes to increase it. As meat is in high demand, he needs more capital to put toward his business and to cover the market. For this purpose, he has applied for a loan in the amount of 2,000 AZN. He will use the loan to buy one cow, two cattle, and five sheep.
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.