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Ivan Cuciuc (02.02.2010)

Agriculture Business 

Location: Criulen, Moldova

Family: Married with 2 children

Type of Business: Agriculture Business

Loans from CAMED: 3 small-business loans    

Loan Amount(s): $1,000 in 2007, $1,500 in 2007, $2367 in 2009, 

                                          $2416 and $4837 in 2010 

Impact of the Loan:

Ivan Cuciuc began growing vegetables in 1994 in a field near his house. At the end of that season, however, he found that his efforts at sustaining an agricultural business had failed and he had not acquired any income. Rather than quitting, Ivan decided to improve his business by creating two greenhouses where he grew eggplants, tomatoes, and cucumbers. The work Ivan put in to build the greenhouses proved to be a success and his business began bringing in profits the next year.

Since his business started, Ivan has taken out three loans with Invest Credit. In February 2007, he took out his first loan of $1,000 to purchase wood and build two more greenhouses. Being able to utilize four greenhouses helped production tremendously, but Ivan realized that access to water was unpredictable. He would need more capital to build an irrigation system for his greenhouses. So, at the end of 2007, Ivan took out a second loan for $1,500 to build a well. Access to this well provided Ivan’s greenhouses the water they needed to thrive. Since then, Ivan’s greenhouses have continued to show success, and with the help of his wife and two children he is able to maintain them in order to provide for the needs of his family.

Ivan is continually seeking out ways to improve his greenhouse business and improve his income. At the beginning of this year, he took out a third loan through Invest Credit for $2,367 to purchase more land, construct two more greenhouses, and buy the necessary seeds to plant more crops. In the future, Ivan hopes to expand into new markets. This year he is testing different types of strawberries in order to find one that might work in his soil. Ivan sees this as a profitable market, but only if he can find the right type of strawberries that will prove to be successful. 

Ivan is very excited to have access to loans through Invest Credit so that his business can have better opportunities and have the ability to improve each year. With the profits from his greenhouses Ivan has been able to make improvements on his house worth about $30,000. Some of these improvements include: installing a bathroom, installing windows and a floor, and purchasing both a washing machine as well as a refrigerator. Although Ivan’s greenhouses are seen as a very small business, it’s enough to stay in his home country and stay with his family. This is rare for the average Moldovan, since 25% of working aged citizens are currently employed abroad. Ivan is thankful because through his business he has a chance not only to provide financially for his family, but also emotionally and physically since he is able to live and work near his family.

In his own words…

“I am thankful to have access to loans so I don’t have to live abroad and can grow my business in a way that provides for my family’s needs.”