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Microfinance in Moldova

The Need for Microfinance

Through branches in the north, south, and central parts of Moldova, CAMED/Invest-Credit provides a combination of financial and educational services that is currently unavailable elsewhere. The need for effective and relevant business and leadership training and for a strong Christian presence in the business world is very great in the country of Moldova.

Having access to credit and basic banking services is essential to the development of any economy. In Moldova, many people’s dreams, such as going to college or owning a business, could not have been realized without the help of a loan.

While credit in the developed world is often cheap and easy to access, credit in Moldova is very costly and involves a lengthy application process. Those who have access to credit have more opportunities for growth, despite the struggling economy of Moldova.

Link To Capital

Microfinance provides the link to capital so many entrepreneurs need. Microfinance is typically defined as savings and lending programs for poor and low-income families. At CAMED microfinance takes the form of microloans and solidarity groups issued through the registered microfinance institution, Invest-Credit.

The power behind Christ-centered microfinance in Moldova, however, is more than just issuing loans. It is powered by a focus on equipping clients with long-lasting solutions that empower them to act, think, and do for themselves.

Success at CAMED/Invest-Credit

CAMED’s unique blend of services has resulted in growing success for the organization. Invest-Credit is one of the only microfinance organizations in the country providing financing for starting entrepreneurs with little to no prior experience. Further, our loan application and approval process is very efficient, taking only a few days from start to finish.

Part of CAMED’s success can be measured by the high repayment rate Invest-Credit enjoys, currently over 99%. The vast majority of clients who come to Invest-Credit come back for second, third, and even fourth loans, providing a strong indication of good service and a solid network for growth and expansion. CAMED differentiates itself by providing prayer support for its clients and building personal relationships.

Transformation in Communities

Many people just need a working chance. A small amount of starting capital and a little training goes a long way in enabling people to work themselves out of poverty.

Iacob is a client who has done just that. Iacob has developed a succesful rabbit breeding business through an Invest-Credit loan. He used the start-up capital to buy breeding rabbits and materials to build cages. Iacob has also trained others from his community on rabbit breeding and has referred them to Invest-Credit to obtain their own loans. In addition to being a successful entrepreneur, Iacob is also a pastor. As his church is not able to fully support him, his rabbit business has played a key role in this ministry as it provides the income he needs to live while allowing him to focus on pastoring.

Iacob is just one example of the industrious, compassionate clients Invest-Credit and CAMED have served. Many of our clients have been able to employ several community members or give back financially to their communities as their businesses grow. As an individual's income increases, the impact of this growth extends beyond the family into the local community. Micro enterprise development not only strengthens businesses, but it also contributes to the development of stronger communities as well.