Baxsali is a 51-year-old man, married with three children. Baxsali has been breeding cattle for the last 15 years. After several attempts to find a job, he gave up and decided to start his business. With the help of his wife, they purchased their first cattle.
Baxsali usually buys small calves, raises and fattens them for 5-6 months, and then resells them for a more profitable price in the livestock bazaar. His monthly income is 300 AZN, and this business is only one source of financial income in his family. Beef is in very high demand in Azerbaijan, and people use it in everyday dishes like pilau and dolma. Baxsali also keeps dairy cows for personal use and for selling to neighbors.
Baxsali wants to expand his business and improve the life conditions of his family. He applied for a 2,000 AZN loan in order to purchase two cattle, two dairy cows and fodder. 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.