Invest Credit: Improving Lives Through Accessible Financial Services

Brothers Evgheni and Denis Malai, Molodovan farmers.

A guest post from Invest Credit, a Portfolio Company and Hope Global Investment’s microfinance partner in Moldova.

Invest Credit’s mission is to build trustworthy relationships with its clients by providing excellent financial services to empower them to realize their dreams for their businesses and families.

While microfinance lending practices have been available for decades, microfinance incorporating Christian values has an important but shorter history of only about 20 years.

In Moldova, the idea of Christian-minded businesses was widely rejected, as pastors saw the intersection of these areas as risky and easily corrupted. In 2002, Moldovan pastors began attending conferences about melding Christianity and business and learned they could successfully coexist.By the end of 2003, Filadelfia, the first Christian microfinance institution in Moldova (founded in 1998), had issued 250 loans, helping 160 families invest in their small businesses. In 2005, Filadelfia rebranded as Invest Credit, Hope Global Investment’s microfinance partner in Moldova (HGI is an affiliate of Hope International.)  (View their 2023 Impact Report here.)

Now 26 years later, Invest Credit’s mission, promoting God’s principles in business and bringing more of the Kingdom of Heaven to earth, is active and thriving. Invest Credit has issued loans valued at nearly $30 million to over 3,400 clients while remaining faithful to its mission and clients amidst many business challenges.

Helping Men and Women FInd Permanent Employment in Moldova

In Moldova, it is common for family members to leave to work abroad and send remittances (funds sent as payments from another country) back home to their families. In 2020, remittances comprised 15% of Moldova’s GDP, making it the most remittance-reliant country in Europe (United Nations). By investing in entrepreneurs, Invest Credit is helping men and women find permanent employment in Moldova.

When the war escalated in Ukraine in 2022, Moldova quickly opened its doors to an influx of refugees. According to the European Commission, over 1 million Ukrainians fled to Moldova in early 2022, and currently, about 115,000 Ukrainian refugees are still living in Moldova. Amid this turmoil, Invest Credit used scripture to be the hands and feet of Jesus as they made at least 18 trips to the border, transporting over 300 refugees, and helping serve meals at a refugee center. Additionally, Invest Credit created a new loan product for businesses hiring Ukrainian refugees, are refugee-owned, or are trading with Ukraine.

Invest Credit hopes everyone they serve experiences holistic transformation in these ways:

• Economic: Encouraging growing businesses and providing enough income for families to thrive.

• Social: Offering local jobs so parents can stay in Moldova and work rather than travel abroad.

• Personal: Allowing clients to experience personal development and growth, forming goals for the future.

• Spiritual: Sharing the hope of the Gospel, offering discipleship, and encouraging clients to serve the vulnerable in their communities.

We see transformation in the story of Moldovan brothers Evgheni and Denis Malai. With local jobs in short supply, they worked abroad in various jobs in England to support their families, sending remittances back home. In 2016, the brothers returned home with their pooled savings, determined to create a livelihood by farming wheat, sunflowers, and grapes. As their crops flourished, Evgheni and Denis earned a modest living for themselves and their growing families. 

When the war started, Evgheni and Denis faced an unprecedented set of challenges. Previously, they sold their crops in Ukraine and Russia, but it was no longer possible as borders and ports were closed. They were forced to pivot to other markets. As the war continued, so did a series of severe droughts across the region. Without a proper irrigation system, the brothers lost most of their crops.

Watching Dreams Come True with Business and Personal Loans

When Evgheni’s friends told him about Invest Credit, he saw an opportunity. In 2023, he borrowed $12,000 to expand the farm, planting more plots and purchasing a machine to harvest more crops efficiently. With loans from Invest Credit, Evgheni and Denis built an irrigation system, ensuring they’d lose fewer crops. 

As their business has grown, Evgheni has been able to give more to his local church and share his harvest with fellow members. “In partnership with Invest Credit, I have realized that the spiritual and material facets can coexist harmoniously, providing me with a deeper perspective on life.”

As Evgheni and Denis have stabilized their farm, they’ve also invested in their community. They now provide employment to others, and fewer parents are forced to go abroad to provide for their families. Evgheni noted, “With access to Invest Credit loans, I have experienced a profound transformation. Amid financial challenges, I have found peace and confidence. Each financial step has become an opportunity for growth and contribution toward the common good.”

To learn more about Invest Credit, review their 2023 annual report or Q1 2024 Newsletter.