Taleh is a 28-year-old young man. He is single and lives with his parents. He breeds cattle and has five years of experience in this field.
Cattle breeding requires a lot of physical activity and spending most of the time in the open air. Pasturing takes 80% of Taleh's time. He usually buys small calves, raises and fattens them for 5-6 months and then resells them for more a profitable price in the livestock bazaar. Meat is in very high demand in Azerbaijan and people use it in everyday dishes like pilau and dolma. Taleh's monthly income is 230 AZN and this business is only one source of financial income for his family.
Taleh would like to purchase more cattle and for this purpose he has applied for 1000 AZN. He needs this loan to increase his monthly turnover and cover the needs of his customers.
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.