Farmer's success: self-belief, belief in land, rain and in financial partner | Microinvest

Farmer’s success: self-belief, belief in land, rain and in financial partner

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“It will be a good year. We have seeds and fuel. We have everything; the only thing we need is rain”, says Vasilii Chinali from Comrat.  It is early morning but he is in the field already. Soon the first sprouts will appear and everything around, up to the horizon will become optimistically bright green. It is the color of belief for every farmer. Vasilii owns over one hundred hectares of land. With corn, peas, barley and wheat sown, the worries will also arise. Good thing that you don’t need to think about money. Like last years, as early as February, Vasilii took out a loan in Microinvest.

“I bought fertilizers, fuel and seeds”, says Vasilii with certainty. “I borrow just enough to reimburse the loan; loan terms are suitable for me”.

Loan terms in Microinvest are suitable not only for Vasilii. Constantin Razgradscki, the loan expert, says that only in February, he approved credit limits for about 20 farmers.”In Comrat, due to the region specifics, agricultural loans account for 75-80%; the majority of the customers apply for a loan before agricultural activities – they provide farms with diesel fuel, seeds, and fertilizers to avoid time losses in the season,” says Constantin knowledgeably. He’s been visiting every farm personally for many years to evaluate the situation and, if necessary, gives advices.    “And in autumn after the harvest, when they know how much they’ve earned and what they can afford, they come to us for another kind of support – to get money to purchase, for example, machines”.

Microinvest issues loans up to MDL 1.0 mln without collateral with its prominent speed – within 1-2 days. Farmers are people of the land; they did not get used to knock on the office doors and wear down their feet in the race for another certificate and they do not have time for that.   Vasilii appreciates this.

“When I went in, the expert explained everything to me normally, clearly, with all the pros and cons, demonstrated me the risks, suggested better and easier ways, helped me with the documents, although they didn’t request a lot of them; in a day I was already with the money, and, needless to say, it is profitable,” recalls Vasilii.

“Agricultural producers are our priority,” says Constantin. Understanding their situation is what builds their trust. Judge for yourself how much it means to a farmer such a simple condition as nine months of delayed payments. That means that you take money now, before sowing, and you begin to pay after nine months when you sell the harvest.”

According to Constantin, many farmers draw up a credit limit for insurance. A person has a certain amount reserved which he can use fully or partially when necessary and at a convenient time. Vasilii Chinali admits that he always tries to repay the borrowed amount as soon as possible. Early repayment is more profitable; moreover, Microinvest does not charge a fee for that. The Company also provides the necessary certificates of payments made so that the farmer can get subsidies.

 “We do not torment clients with the collection of documents”, smiles Constantin. “This is our concern, they have enough their own problems. We are always in touch with them, and we are always ready to come.”

In general Microinvest staff is quick on its toes. Elena Domosan, the loan expert from Chisinau branch, said that Oleg Gindea, one of her regular clients and owner of the flower nurseries, needed the signature of his wife and co-owner when taking out another loan. However, he was in a hurry for another meeting, and his wife was at home, in a few dozen kilometers from the capital: “He is our good client – during two years with Microinvest he took four loans from us, his business has doubled during this time. We’ve learned to feel the market, to understand it’s needs. And his family enlarged for that time – the fourth baby was born! His wife could not come, and her signature was needed. Well, I got in the car and drove to her, why not to give her a favor in such a situation? We always try to show understanding in such situations and always feel how people appreciate it,” smiles Elena.

In line of duty Constantin often visits those areas where Vasilii’s, his longtime client’s, fields are situated.  He says that he’s always happy to pop in, to say hello, and see how Vasilii have succeeded. Over several years, success is visible to the naked eye: “He bought new equipment, increased the crop acre – this is nice to see. We want our client to develop together with us, we are not just happy, we strive for this. We help him to grow and he helps us.”

Vasilii is sparing of words, he is a man of action, and Microinvest appreciates him for this: “Agricultural loan from Microinvest for the farmer is what he needs,” he sums up. And again he is looking at the sky with hope. All that was in his power, he has made. Rain does not depend on him, but as much as he believes in his strength and in his financial partner, he also believes in the mercy of heaven and in the generosity of his land. And this faith has never let him down.

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