Rauf, age 34, has been raising livestock for the past seven years. He usually buys calves, raises and fattens them, and sells them at a profitable price. Selling meat is a worthwhile business because meat is an essential staple among the local people, who use it in many everyday dishes like dolma and pilov.
Rauf is a very kind and friendly young man who is unmarried and living with his parents. His monthly income is 350 AZN, which represents the sole financial income for the family. He reports that it is very difficult to cover the needs of the family with such a small income. Looking after the animals is also difficult, requiring that he spend most of his time outside. The economic climate in the region is one of austerity, but Rauf is a very positive man and his father supports and helps him a great deal.
Rauf has applied for a loan in the amount of 2,000 AZN, with which he will buy two milk cows and three calves. This will be his second 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.