Jalal is 52 years old with three children and a wife. He is growing cattle in order to sell the meat in the central bazaar. He has been doing this business for 17 years together with his wife. Currently he is retired and has a monthly pension of 150 AZN per month. This is insufficient for taking care of his family’s financial needs, so that’s why he has dedicated himself to this business.
Jalal’s is selling his meet in the central bazaar to local butchers and the regular customers. Beef is in high demand in the region because it is used in everyday meals like kufta, bozbash, etc. Also during holidays people consume beef meat a lot, which helps him to earn more profits.
He has taken loan from Aqroinvest three times previously and has a good loan history. His fourth loan is 2,000 AZN and he plans to buy four calves with this money, to fatten them and then sell their meat. He is very optimistic about this loan, because of his familiarity with details of the business he is doing.
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.