Interviu cu Olga Untură, clientă Microinvest

Interview with Olga Untura, Director of the OVR clothing store, conducted within the framework of the “Microinvest – a responsible lender” campaign.

Hello, Olga. I live near your store on Lev Tolstoy Street and pass almost every day nearby on my way to the supermarket. As far as I know, you haven’t been there long. When and how did you decide to change the location of your store?

I opened the store a year and a half ago. Until then our business policy was a little different. We had 6 small boutiques, located in different shopping centers. Taking into account that customers and their needs change every year, a large store also offers a higher level of service. Thus, we decided to consolidate our business into a single, large and complex store. Especially when we found a rather “popular” location, right at the entrance to a hypermarket.

A year and a half are enough to understand that you made the right decision? Are you happy with the results?

It is an understatement to say that we are pleased. Sales in the new store increased by almost 1.5 times. Customers have also changed. Yes, perhaps the requirements to our store have also increased, but now customers are ready to invest much more in quality products.

Do you specialize in selling only women’s clothing?

At the moment, yes. We have a very wide array of women’s clothes. The new store allows us to increase our assortment and even diversify it. It fits equally well for men’s clothes, fabrics and why not, even for bed linen. However, because of the pandemic situation, at the moment we are only open negotiating with our partners who would be interested in the location of our store. And on our own, we continue to invest in what we do best – women’s clothing brands.

Speaking of the pandemic, how did this affect your business?

Just recently we discussed this with our colleagues. We have noticed an inexplicable change since last November. Even December and January were not as we expected. Sales volume began to fall and not because we changed our location, we had already worked quite a long time here. In March, April and May, it was very hard. We had to close the store at that time, as did all the businesses in this country. We didn’t reopen the store until June. We were lucky that Microinvest indulged us, giving us a break in paying the loan and interest rate, during this difficult period for all of us.

OVR is a joint-stock company with years behind it and a rich history. Why did you choose Microinvest? I assume you started your financing from the banks.

With Microinvest we have been collaborating for many years. We took our first credit almost 10 years ago, and since then we have been collaborating fruitfully and become loyal customer. Sometimes we need money to replenish our stocks. Another time we took credit for repair work when we moved to the new location and were in full preparation.

However, at banks, interest rates are lower than at lending institutions. Who wouldn’t fir wish a better credit price?

An advantageous credit is not just the interest rate. In general, the difference is not as great. At Microinvest, I like the approach. It is a responsible creditor in every sense of the word. Moreover, I would say that Microinvest tried to understand as deeply as possible the specifics of our activity. It understood us and helped us in various situations. Working with someone who will objectively calculate your business revenue and come up with effective development solutions is real luck. Another plus is the operability and simplicity of the lending process, without much bureaucracy. I made sure of that not only in the case of business credit but also from my own experience when I needed credit for the repair of the apartment and the purchase of furniture. I know it may sound a little feminine, but I loved the Microinvest team because they didn’t “torment” me as the banks do.

Probably after such an advertisement, Microinvest should lower your interest rate. Lastly, I want to ask you one more question. What are your plans for the future? I realize that at this point it is not so easy to answer this question, but still…

We plan to seriously deal with the promotion of the store. We are not just talking about traditional outdoor advertising. Although in the new location, where thousands of people pass by every day, it remains very efficient. We want to be as active as possible on social networks. Digital marketing has become an important component of any business, especially when we refer to women’s clothing stores. As we have already said, we are looking for new partners to diversify the assortment. The only condition is to have a niche other than women’s clothes; we already do it and do it well.

Pavel Zingan.

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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)