Safarli usually buys small cattle, raising and fattening them in five-six months, reselling them for profit at the local livestock bazaar. People use beef in everyday national dishes such as pilau and dolma and always use yoghurt sauce. Meat-selling earns him 150 AZN per month.
This is the only source of income in his family and not enough to cover the basic needs of his beloved children. Safarli has therefore applied for a loan of 1000 AZN to purchase three more head of cattle. This will be his third loan and he has a good client history.
About Aqroinvest:Aqroinvest Credit Union was founded in 2001 by a group of 32 farmers from Imishli. It has since grown to become the largest credit union in Azerbaijan, owned by its more than 5,400 borrowers and boasting a portfolio of nearly US$12 million.
AqroInvest is focused on providing loans to the following groups of people: rural farmers, people living in distant southern villages with little or no access to finance and internally displaced people and refugees, many of whom lost their homes and livelihoods during the violent conflicts in the 1990s.
In May 2011, Aqroinvest started a new project with Kiva proving higher education loans to students. The project gives students the support and financing they need to continue their education and helps pay for tuition fees at various universities in Azerbaijan. Aqroinvest is the first credit union in the country to offer students loans.
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