Aziz is 57 years old, married, and a father of three children. He is raising cattle in order to sell the meat in the central bazaar. He, together with his wife, has been doing this business for 15 years. Currently he is retired and has a monthly pension of 150 AZN per month. This is insufficient to take care of his family’s financial needs, so that’s why he has dedicated himself to this business.
Aziz is selling his meat 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 a lot, which helps him to earn more profits.
He has taken loan from Aqroinvest two times previously and has a good loan history. His third loan is 1,800 AZN, and he plans to buy three calves with this money, to fatten them and then sell their meat. He is very optimistic about this loan, because of his familiarity with the 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.