Saftar is a 23-year-old single man. He has been breeding cattle for the last 5 years. After several attempts to find a job he gave up and decided to start this business. With the help of his brother, they purchased the first cattle.
Saftar usually buys small calves, raises and fattens them for 5-6 months and then resells them for a profitable price in the livestock bazaar. His monthly income is 180 AZN and this business is the only source of financial income in his family. Beef is in very high demand in Azerbaijan, as people use it in everyday dishes like pilau and dolma. Saftar also keeps milk cows for personal use and for selling milk to neighbors.
He wants to expand his business and improve the living conditions of his family. He applied for a 1,500 AZN loan to purchase two cattle and two milk cows. 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.