Dumitru Svinarenco, Microinvest Executive Director: “2020 was an extraordinary year. It taught us a lot and allowed us to reallocate resources to move forward.”

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He is at the helm of Microinvest for nearly six years. His leadership skills have contributed to the company’s significant growth – today it has reached a portfolio of more than MDL 2.4 billion invested in the development of entrepreneurship and creation of a better life for Moldovan families, it has 14 secondary offices and about 230 employees. Even the global pandemic did not make him give up development projects. He only changed the tactics with which he correctly unlocked his potential.

The dream of becoming an economist came after reading Theodore Dreiser’s novel The Financier. Oddly enough, my most vivid childhood memories are related to books. I perfectly remember my vacation by the sea. I remember sitting on the beach, the sun was shining brightly, waves could be heard in the background, and I was reading a James Hadley Chase detective novel and enjoying that quiet, carefree state. Childhood is like spring, with so many beautiful moments ahead of us that we don’t even know about. Ever since then, I have liked teleporting into every real or imagined story I read about in books. I guess that quality still helps me today, especially when it comes to immersing myself in our clients’ stories, understanding them, and helping them move forward.

The most important lesson for me was realizing that life, actually, is that what is going here and now. I used to live for the future, planning every step and carefully analyzing all the risks. Without realizing that life is what happens to us today. We need to live in the present, not in memories, and enjoy every day. Once I realized this, I radically changed my way of life and began to interpret things differently.

2020 was an extraordinary year. First, I took my son to first grade. It was a totally different event, without a school assembly, flowers, and motivational speeches, but I experienced some special emotions… Professionally, together with my team, we managed to fully rediscover our potential and test our ability to adapt to unexpected situations. It taught us a lot and allowed us to reallocate resources to move forward. As Tony Robbins said, energy flows where attention goes. These words perfectly convey how we operated at Microinvest. We have been able to meet all the challenges and remain loyal to our customers. It was the year with many restructurings, changes, and decisions that we had to make quickly but responsibly. In such a difficult global situation, we managed to focus on our strengths and retain our clients, employees, and portfolio and even grew it by more than 24%, supporting businesses and individuals across the country.

When a company manages to get through tough times, it’s proof that its success didn’t happen by accident but due to the right organization. As a leader, I’ve often found that I have a team of special people around me. Together we managed to create a Microinvest culture based on transparency and support. Dr. Yitzhak Adizes provided an interesting example: if we break the leg of a chair, in a rigid system it will fall down, and in a flexible system we can swap the other three legs and fix it firmly. The pandemic allowed us to test this theory. We ended 2020 with balanced results and we are confident that 2021 will be better.

The hard decision I had to make once, early in my career as CEO, was to bring in to the team someone with more experience than I had at that time, and even stronger in some areas. As a rule, we people, without realizing it ourselves, avoid situations of direct competition. However, as a leader, I was aware that the professionalism of that new team member would have a positive impact on the company’s development and would give me an incentive to develop professionally and personally. We should not be afraid to accept in the team people stronger than us. On the contrary, they can bring extra performance and professionalism, helping us to develop.

Microinvest plays an important role in the Moldovan financial market, primarily because we attract foreign investment, support local business and offer customized solutions for entrepreneurs, contributing to economic development. This is demonstrated by our portfolio, which ranks us 6th in the banking and non-banking system. As a non-bank lending institution, the interest rates on our loans are higher than those of commercial banks, but we try to compensate for this with other important advantages – operability, responsibility, and accessibility. We are the only NCO with international SMART certification, and we are proud to help hardworking people achieve their goals.

Source: VIP Magazin

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Client's Name
Client's Surname
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Term
Rate
Amount
Monthly payment
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Purpose
Comments

1. Name and Contact Information of the Creditor
Creditor
Address
Phone number
Email Address
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3. Costs of the credit
Rates related to the credit
Annual Percentage Rate of Charge (APR) This is the total cost expressed as an annual percentage of the total amount of credit. The APR is there to help you compare different offers	%
In order to obtain the loan in accordance with the agreed terms and conditions, it is mandatory to conclude an insurance contract to guarantee the loan or a contract for another ancillary service.
Related costs
Any other costs deriving from the credit agreement	Fee for services rendered in relation to usage of credit, calculated and paid as follows: of the credit and paid by the Debtor on the date of granting the credit from own sources or is deducted by the Creditor from the amount of the credit The negotiation / prolongation of the credit can take place by mutual agreement of the parties, by signing an additional agreement, the Creditor being entitled to request an increase in the interest rate within the limits provided by the legislation in force. In case of negotiation / prolongation of the loan, the Borrower shall pay to the Creditor, at the date of the negotiation / prolongation a commission in the amount of 2% from the credit balance at the time of negotiation / prolongation.
Conditions under which the costs related to the credit agreement can be changed	The Sides can change the costs related to the credit by written agreement signed by both parties; For the non-constitution of the guarantees within the agreed term, the Creditor is entitled to calculate, and the Client will pay to the Creditor an Interest of delay in the amount of 5% annually, applied to of the daily balance for each day of delay, starting with the date following the term established for the constitution of the guarantee/ s and until the date of the proper execution of the respective obligation.
Obligation to pay for notarial fees / mortgage registration fees / fees for noting the prohibition of pledge in the Transport Register related to the pledge of means of transport (agricultural machinery)	Paid by the Client , except as otherwise provided in the pledge / mortgage agreement.
The cost for the valuation of real estate proposed in pledge	Paid by the Client directly to the Evaluator
Costs in the case of late payments Missing payments could have severe consequences for you (e.g. forced sale) and make obtaining credit more difficult
The repayment of the loan is free of charge in the secondary offices of the Creditor, as well as at the discretion of the Debtor through the representatives authorized to collect loan payments. The list of which and their fees are published on the website of the Creditor (www.microinvest.md/cum-achiti-creditul/). In case the Debtor use payment methods with fee, the Debtor cover all the costs of repayment of the loan and undertake to make the payments in such a way that the Creditor receives the agreed repayment amount and without any deductions by third parties processing the refund payment.
In accordance with and arising from the provisions of art. 15, para. 7), lit. a) from Law no. 202/2013, any payments related to the granted credit (commissions, taxes, penalties, late interest and any other type of payment), except interest, will be applied and collected within the limit of the ceiling of 0.04% of the total value of the credit per credit day multiplied by the number of days of actual use of the credit (hereinafter 'Ceiling'). Therefore, the Lender will be entitled to apply and collect the costs, excluding interest, exactly in the fixed or percentage amount established in the contract if the said ceiling allows, and if the ceiling is lower than the value of at least one cost, excluding interest, then the Lender will be entitled to reduce the fixed/percentage amount and apply and collect any of the applicable costs only within the limit of the ceiling value. When calculating the ceiling, the costs already applied and collected will be taken into account, with the exception of interest, which reduces its value. (Representative example: if the amount of the penalty is 20 MDL per day, and the ceiling value at that time is 16 MDL, then a maximum of 16 MDL will be collected).

4. Other important legal aspects
Right of withdrawal You have the right to withdraw from the credit agreement within a period of 14 calendar days	Yes
Early repayment You have the right to repay the credit early at any time in full or partially	Yes
The creditor is entitled to compensation in the case of early repayment The Debtor may repay the loan in full or in part in advance, notifying the Creditor in writing 3 days in advance, and paying an early repayment fee of:	% from early repaid amount, if the period of time between the date of early repayment and convened maturity exceeds one year; % from early repaid amount.The early repayment can be made only if the Debtor has no outstanding debts on interest or other amounts to be paid in accordance with the Contract. % from early repaid amount, if the period of time between the date of early repayment and convened maturity does not exceed one year.
Database usage The creditor must inform you immediately and without charge of the result of a consultation of a database, if a credit application is rejected on the basis of such a consultation. This does not apply if the provision of such information is prohibited by law or is contrary to objectives of public policy or public security The parties may agree on additional terms and conditions, which will be included in the credit agreement.	Yes
Right to a draft credit agreement You have the right, upon request, to obtain a copy of the draft credit agreement free of charge. This provision does not apply if the creditor, at the time of the request, is unwilling to proceed to the conclusion of the credit agreement with you	Yes
The period of time during which the creditor is bound by the pre-contractual obligations	This offer is valid for 15 calendar days after it is issued.
In this regard, I subsequently declare that: I was provided with the necessary information, the essential characteristics of the above-mentioned credit product were explained (interest rate, number of commissions, credit costs, early repayment conditions, total amount to be paid), as well as the consequences of non-compliance with contractual clauses; the costs included in the total cost of the loan were explained to me, including the costs for ancillary services related to the credit agreement; I was offered the possibility to negotiate individually the contractual clauses in the credit agreement that I intend to sign, I negotiated individually the granting commission, the monthly commission, the amount of penalties and I mention that its clauses do not disadvantage me, being fair in the report mine with the creditor; I was asked by the creditor about the probable importance of the information provided and whether essential circumstances that I expected to be provided were not omitted in order to make an informed and rational decision about concluding the potential credit agreement. the information provided and the corresponding explanations allowed me to assess, including the personal analysis of other offers of third party creditors, whether the proposed credit agreement is tailored to my needs and financial situation; I know the content of the contract and all its conditions have been explained to me, I have understood and accepted them, and the documents and information underlying the conclusion of the contract are complete and accurate; I know the law, the normative acts that will govern the contract, as well as the lack of consumer quality; I have no ambiguities or misunderstandings regarding the terms of the contract; the credit product corresponds to the purpose described above and will be used according to the destination and the economic activity carried out. The assets procured/resulted/constructed/repaired from received loan sources will be registered/transmitted in the social capital of the company where my business activity is carried out and/or will be used jointly by the members or individually however strictly for running my business activity. (Signature)