Loan Stories: How to Get What You Want Here and Now?

14082018

Do your aspirations clearly exceed your reality? This is not about Ruslan Munteanu. A resident of Botnaresti village in Anenii-Noi region always knows what he wants. Wife, three children, parents’ house in a picturesque village. He worked for 8 years in Europe. And understood: home is better. It can be a gracious living. He’d come back and found a job in Singera. He had the same salary as others. Gradually his family homed in: they made a repair, bought some furniture, now it was a turn to furnish the bedroom. They decided to get rid of the old and uncomfortable bedroom furniture and to buy a good, long-lasting one for years. To wait and save – it’s not about him.
“I have lived in Europe for 8 years and noticed one thing: 80% of the population lives on credit there. It’s normal for them. They live here and now, and do not wait when opportunities present themselves,” says Ruslan.
They looked out the furniture in the showroom of Tandem company. They liked the quality and design. The price was also good.
“The idea to get a loan did not scare me, we initially understood that it would be so, but I am grateful to the girls, consultants from Tandem, for their advice to contact Microinvest,” says the man.
ID card and just an hour later the loan was issued. Ruslan was stunned by the speed and professionalism of the credit officers of the Company. “During my conversation with the Microinvest staff, they broke it down for me so clearly that no questions have arisen.” He pays for the loan in a bank at a convenient day for him; he himself chose a loan repayment schedule.

“You see, we sat down and just talked. They got to the bottom of my situation and offered the most convenient option for me. For a certain time, I will not pay interest on a loan, for example. Credit length is maximal, 3 years, but I hope I’ll reimburse the loan much faster. They explained that so it was also possible and it was very convenient. The monthly repayments do not bother me at all now, and I need a repayment holiday to go to the sea with my family.”
Maxim Slav from Comrat, Ruslan’s peer, also a hard worker and the family man, finishes the repair in his house. It’s also a parent house, but it is unrecognizable now.
“I wanted only to reset a stove but my wife convinced me to do more. What we did: the roof is new, floors, repapered walls, in general, fairly well, nice to come in. We’ll finish in a month,” says the man.
Maxim works at a local factory. He says that the salary is good, but for major expenses like repairs, he must save up for a long time.
“We don’t want to deprive ourselves; we want eat something tasty, buy something for our own pleasure. We decided to get a loan. My sister advised us to appeal to Microinvest; she is already a client of the Company and is very pleased with its service. What struck me was that unlike banks, they did not require endless certificates and documents. Only the identity card. I told them about myself, why I needed money. We talked. Evdochia, consultant, who received me, described in every detail everything – how much to pay per month, how to reimburse as soon as possible, what will be the loan repayment schedule. The next day I went to get the materials.”
Like Ruslan, Maxim took out a consumer loan in Microinvest for 3 years, and in the same way he hopes to reimburse it earlier.
“I liked that the consultant immediately said that it was possible. They initially proposed us a schedule that prevents monthly payments to impact greatly on the family budget. It gives confidence, and when something remains we pay more, so I hope we will cope earlier,” says Maxim.
Evdochia Ciachir, the consultant of the Comrat branch, says that customers are always surprised by the fact that Microinvest officers show understanding for their position, examine the circumstances first and then offer something that is beneficial to the client.
That’s a given. After all, it is important for us that a person can pay off so that the loan does not become an unbearable burden for him. We always meet the needs on a case-by-case basis. For example, we consider not only salary as a source of income, but also money transfers from abroad. Even pensioners can get a loan from us. The maximum term of the loan is 3 years but for repeat customers, it can be 4 years; it is possible to make a repayment holiday, for example, for the first few months, moreover, the monthly amount becomes a little less. Sometimes this is important, especially when revenues depend on the season,” says Evdochia.
Comrat is a small city; many people depend on the season. According to Evdochia, most often, in summer, people get loans in Microinvest for repair. In spring financial help is needed by farmers: to buy seeds, fertilizers or equipment; as soon as summer is over, working students come to get a loan to pay for their studies. Sometimes, people get loans on a holiday and even to organize celebrations on the occasion of the wedding or christening. Someone needs a phone, furniture, refrigerator, you never know what.
“Each of us has his own needs,” says Evdochia. “I noticed that people are increasingly giving up the idea to save up for a long time. They appreciated the convenience of the loan. There is no sense to delay the repair or to wait over the years for the opportunity to get married: take a loan and get what you need here and now, and not after a few years of austerity. It’s simple. We issue loans up to MDL 50,000 within a few hours maximum upon presentation of identity card only. At the same time, unlike banks, we do not even have an origination fee; these are already savings. The clients choose themselves the loan repayment schedules according to their capabilities, even the dates of repayment, which is also important. Someone gets a salary on the first day of the month; someone gets it on the 10th”.
Microinvest will not request collateral at obtaining a consumer loan. The main thing is your ability to reimburse the loan. You can also submit your loan application online. In this case, a consultant will call you back within just 15 minutes to inform you about decision. You can find Microinvest branches in all big cities but it is possible to repay the loan in banks, as Ruslan Munteanu does, and soon it will be possible to pay it through payment terminals.
“Above all else, it’s convenient for me, I’m okay with anything,” says Ruslan. “The most pleasant thing was that my interests were at the forefront and, based on this, the conditions have been laid down. It all worked out decently. It’s important to me.”

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Client's Name
Client's Surname
Personal Identity Number
Currency
Term
Rate
Amount
Monthly payment
Amount to receive
Purpose
Comments

1. Name and Contact Information of the Creditor
Creditor
Address
Phone number
Email Address
Web page

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)