Farhad usually buys small calves, raises and fattens them for 5-6 months, and then sells them for a profit at the livestock bazaar. His monthly income is 140 AZN and this business is the only source of financial income in his family. Beef is in very high demand in Azerbaijan and people use it in everyday dishes like pilau and dolma. Farhad also keeps milk cows for personal use and for selling to neighbors.
He has already taken 3 loans from Aqroinvest in the past. With a good loan history, he has applied for a fourth loan of 1800 AZN to purchase two cattle and one milk cow. With this money, he wants to expand his business and improve his family's living conditions.
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 AqroinvestAqroinvest 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.
You can join Aqroinvest's Kiva lending team, Aqroinvest Dostları (Friends of Aqroinvest), and become a fan of the organization on Facebook here.
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