Jamila is 54 years old. She is not married and lives with her parents and looks after them because her parents are very old and ill. She has been engaged in cattle breeding for the past 20 years. During these years she gained the necessary skills and knowledge for effective management of her business. She usually buys small calves, raises and fattens them for 5-6 months, and then resells them for a profitable price in the livestock bazaar.
Her profit from this business is 142 AZN monthly but it is not enough to take care of her parents. Now she needs funds to buy small calves and fatten them and then sell them. She also makes homemade yoghurt and sells it, together with fresh milk, to neighbors. This business is the only source of financial income for her family. Beef is in very high demand in Azerbaijan, and people use it in everyday dishes, like pilau and dolma.
Now Jamila would like to buy more animals. For this purpose she applied for a loan of 2000 AZN. She will buy three calves and one milking cow. This will be her third loan with AqroInvest, and she has a positive 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.