Sadaqat is a 61-year-old man, on pension. He is married, with three children. He breeds cows and cattle and sells milk and milk products, as well as cattle to local butchers, for meat. Sadaqat has 25 years of experience in this field, thanks to his father who taught him well how to look after cattle.
Sadaqat usually buys small cattle, raises and fattens them in five to six months, and resells them for a more profitable price in the local livestock bazaar. Milk and yogurt he sells to the neighbors. Milk and meat-selling brings AZN 100 income per month.
Milk and yogurt, as well as meat, are very popular products in Azerbaijan. People use meat in everyday national dishes, such as pilau and dolma and always use yogurt sauce. Milk products are considered to be very healthy and also present in everyday life.
This is the only financial income in his family and it is not enough to cover the basic needs of his beloved children. Sadaqat applied for a loan of AZN 1,100 to purchase one milk cow and two cattle. He is a trustworthy client and this will be his fourth loan.
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.