Habil usually buys small cattle, raises and fattens them for 5-6 months, and resells them at a more profitable price in the local livestock bazaar. He also sells milk and yogurt to his neighbors. Milk and meat sales bring him 100 AZN income per month. Milk and yogurt, as well as beef and mutton, are very popular products in Azerbaijan. People use meat in such everyday national dishes as pilau and dolma and always accompany these with yogurt sauce. Milk products are considered very healthy and are consumed daily.
This is the only source of financial income for the family, and Habil reports that it is not enough to cover the basic needs of his famaily. Habil has therefore applied for a loan in the amount of 2,000 AZN in order to purchase two cattle, two milk cows, and cattle fodder. This will be his second loan and he has a good client history.
More information about this loan
This loan is designed for clients residing in settlements for Internally Displaced Persons (IDPs) in Bilasuvar, Azerbaijan. An internally displaced person (IDP) is someone who has been forced to flee his or her home due to armed conflict, violence, human rights violations, or natural or manmade disasters, but who, unlike a refugee, has not crossed an international border (source: UN Office for the Coordination of Humanitarian Affairs). Many of these people have failed to qualify for loans through formal channels due to low income and lack of collateral. By funding this loan, you are creating opportunities and supporting economic development in extremely underserved communities.
About Aqroinvest:Aqroinvest Credit Union was founded in 2001 by a group of 32 farmers from Imishli. It has since grown to become the largest credit union in Azerbaijan, owned by its more than 5,400 borrowers and boasting a portfolio of nearly US$12 million.
AqroInvest is focused on providing loans to the following groups of people: rural farmers, people living in distant southern villages with little or no access to finance and internally displaced people and refugees, many of whom lost their homes and livelihoods during the violent conflicts in the 1990s.
In May 2011, Aqroinvest started a new project with Kiva proving higher education loans to students. The project gives students the support and financing they need to continue their education and helps pay for tuition fees at various universities in Azerbaijan. Aqroinvest is the first credit union in the country to offer students loans.
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