Sakit is a 52-year-old man, married with one daughter. He breeds cows and cattle and sells milk and milk products, as well as cattle for meat purposes to local butchers. There are about eight head in his herd. Sakit has five years of experience in this field, and the reason which pushed him to start his own business was a very low pension.
Sakit usually buys small cattle, raises and fattens them for 5-6 months, and resells them for a more profitable price in the local livestock bazaar. Milk and yoghurt he sells to the neighbors. Milk and meat selling brings an income of 400 AZN per month.
Milk and yoghurt, as well as beef and mutton, are very popular products in Azerbaijan. People use meat in everyday national dishes such as pilau and dolma and always use yoghurt sauce. Milk products are considered to be very healthy and are also present in everyday life.
This is the only financial income in his family and not enough to cover the basic needs of his beloved daughter. Sakit applied for a 2,000 AZN to purchase three cattle, two milking cows, and fodder. This will be his second loan, and he has 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.