Gulbaniz, a 46-year-old single woman, lives with and assists her elderly parents. For the past year she has been breeding cows, earning a monthly income of 200AZN.
Animal husbandry is widespread in Azerbaijan because there is a high demand for milk and meat. Gulbaniz fattens cows and then sells them for a profit. Additionally, she makes dairy products from the milk and sells them too. Local people buy from Gulbaniz everyday because the products she sells are always fresh and tasty.
Gulbaniz needs additional income to cover her family's needs, which include medicines. She therefore wants to expand her business and build a farm where she can breed not only cows but also bulls, sheep and chickens. Gulbaniz is requesting this 1200AZN loan in order to buy two additional cows and increase productivity. This will help her reach her goal of better assisting her parents.
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.