Guloglan is 36 years old and married with two sons. He breeds cattle and sells them for meat purposes. He also breeds cows and sells milk and milk products. He has five years of experience, which makes him a knowledgeable and skilled person.
He usually buys small calves, raises and fattens them and then resells them in the livestock bazaar for meat purposes. Looking after cattle is hard and requires spending a lot of time in the open air. The climate is very severe. It is very hot in the summer and very cold in winter. However, Guloglan is not alone in his business. His wife helps to pasture and feed the animals.
Meat and milk products are most popular products in Azerbaijan. People drink fresh milk and homemade yoghurt everyday and consider it very healthy. Every national dish consists of meat like pilau and dolma.
His monthly profit is 320 AZN. He wishes to expand his business to improve the life of his family. For this purpose, he applied for a loan of 1,800 AZN. He will use this loan to purchase two cattle and fodder. He has already demonstrated himself as a good client with a positive credit history.
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.