Agamahammad is a 52 year-old-man and married with three children. He has bred sheep for the last 10 years. His pension was too small to cover the needs of his family, so he decided to start his business.
He usually buys lambs, raises and fattens them for three to five months and then resells them for profit in the livestock bazaar. His monthly income is 150 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. He also keeps milk cows for personal use and for selling to neighbors.
Agamahammad wants to expand his business and improve the living conditions of his family. He has applied for a 2,000 AZN loan to purchase 15 sheep and one milk cow. He has a long and positive loan history with AqroInvest.
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.