maibank
maib business app
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Interview with Vadim Culea, Head of Sales Department, Business Banking, maib
Introduction
No good business textbook is complete without case studies. And for good reason. Reading theoretical information is one thing; putting yourself in the shoes of someone facing a real-life business situation is quite another.
That is why, when I met with Vadim Culea, Head of Sales Department, Business Banking at maib, to discuss how the bank supports a company's growth from its very first day, we decided not to simply list maib's products and services. Instead, we chose to illustrate this journey through a case study inspired by real-life relationships between the bank and its clients.
Knowing my appreciation for coffee, Vadim suggested that our case should be about a coffee shop, owned by an entrepreneur named Ana. Coincidentally, that's also my daughter's name.
So, if you are considering starting your own business or have recently launched one, this interview is for you.
Interview
Vadim, good afternoon. Let's imagine how a newly established coffee shop and its owner interact with maib from the very first days of the business.
If we talk about our philosophy, we want to be there for Ana almost from the very beginning. Not to immediately offer her a banking product, but to help her solve the issues that distract her from running and developing her business.
For example, Ana realizes that she needs to register a company and organize its accounting. However, she doesn't have an accountant and doesn't know who to turn to.
Maib has partnerships with accounting firms, so we can recommend a trusted partner. What matters to us is the quality of service they provide. If we see that a partner does not deliver the level of service we expect for our clients, we discontinue the partnership.
As a result, Ana doesn't need to spend time searching for an accountant. She can focus on her coffee shop while we help resolve one of the first supporting tasks that come with launching a business.
The company has been registered, and the accountant is in place. The next step is opening a business account, and sometimes even several accounts.
And once again, our goal is to ensure that entrepreneurs spend as little time as possible on administrative tasks.
Today, Ana only needs to visit the bank once with the required documents to complete onboarding with maib. In the future, we plan to move to fully remote onboarding.
Once Ana becomes a client and installs our maib business app, many subsequent actions can be completed independently. For example, she can open an additional account whenever it's convenient for her, in the evening or even on weekends, without having to visit a branch again.
The coffee shop has opened. Today, most customers pay by phone or card, which means the business needs a way to accept cashless payments.
Exactly. The next natural step is a POS terminal.
Today, around 43% of the POS terminals on the market are operated by maib. Our goal is to ensure that once a client submits a request, the terminal is installed as quickly as possible, typically within two to three days.
However, we are no longer solving only the technical aspect of processing card payments. Through our mobile application, which gradually becomes an entrepreneur's everyday assistant, a valuable business database starts to take shape.
Ana can access detailed statistics, including the number of customers she served, how much they spent, what times they visited, and how many of them were returning customers.
In other words, payments begin to provide insights into business performance, not just transaction processing. Merchant Portal, a module within maib business platform, helps by offering detailed analytics on transactions conducted through POS terminals.
But let's assume Ana decides not to limit herself to the coffee shop. For example, she has a line of pastry products that she would also like to sell online.
In that case, the next step is connecting e-commerce solutions and enabling her to accept online payments.
As a business grows, its banking needs evolve as well. Our role is to grow alongside the client and provide the right tools at every stage of development.
For reference, maib's current market share in POS acquiring and e-commerce services has already reached 44%.
Time for Business, Not Banking Operations
If, for retail customers, maib has created conditions where almost everything can be managed through the maibank app, saving a significant amount of time, what about entrepreneurs and their time?
At the early stages of a business, entrepreneurs often handle almost everything themselves. Ana may have one or two employees, some working part-time, while she herself spends part of the day behind the counter. Her priority should be running and growing the coffee shop, not dealing with banking operations.
That is why we developed maib business, our online banking solution for businesses. Through it, Ana can make payments remotely, including from her mobile phone, not only during standard banking hours but also after work or on weekends.
An important advantage is that transfers between maib clients are processed 24/7. Today, every second company in Moldova is a maib client. This means that if one of your business partners, who is also a maib client, transfers money to you on a Saturday, and you need to top up your business card account for a business trip on Sunday, you can do so without any restrictions.
It is no coincidence that 53% of newly established companies choose to open their accounts with maib.
Financing Business Growth
We have covered payments and day-to-day operations. But what happens when Ana needs financing? Let's imagine she needs additional equipment, yet does not have enough available working capital to cover the investment.
I agree that financing is often one of the biggest challenges for young businesses.
A company may have been operating for only three months, with very little financial history, while growth opportunities require funding today.
That is why we started financing startups.
At this stage, we are not talking about large amounts. Ana can receive up to EUR 2,000 unsecured through a credit card and use those funds to support the development of her business.
From there, we closely monitor how the company evolves. If the business operates steadily, services its debt properly, and demonstrates healthy growth, we do not necessarily have to wait 12 months before considering additional financing.
After a few months, we can revisit her case and reassess the financing amount. In other words, as Ana's business history grows, so do the financing opportunities available to her through maib.
In addition, we have another innovative solution for entrepreneurs like Ana.
During day-to-day operations, unexpected expenses can arise at any time: purchasing supplies, repairing a coffee machine, or covering other urgent business needs that require immediate funding.
We give entrepreneurs the possibility to review payments previously made from their maib account using their own funds and replace those funds with financing provided by the bank.
In practice, Ana opens the maib business platform, selects a larger payment that has already been made, and converts it into installments. As a result, the corresponding amount is returned to the company's account and can be used for a new purchase or any other business need.
This is our new product, "business payments in instalment". One of its key advantages is that it is also available to newly established companies.
The First Year of Business and What's Next
So, during the first year of operation, is it possible for entrepreneurs to access unsecured financing of up to EUR 2,000?
We apply an individual approach to every client.
After two, three, or four months, we may already revisit the company's situation and review its financing limit. However, the most important milestone comes after the first 12 months of operation.
By then, the business has built a sufficient track record, making it eligible for virtually the entire range of our products.
I would also like to highlight our business mortgage loans. While traditional investment loans are typically offered for five to seven years, business mortgages can be granted for up to 12 years.
In other words, Ana could replace rental payments with mortgage payments and eventually own the premises herself?
Exactly.
In many cases, monthly rental costs and mortgage payments are broadly comparable. The difference is that, instead of paying for rented premises, you are investing in a property that belongs to your business.
And I think we can all agree that this is a completely different perspective.
It seems fair to say that this approach allows entrepreneurs to see maib as a true business partner, not just a financial institution.
And not only a financial partner.
Entrepreneurs face a wide range of challenges. Expanding into new markets. Improving team management. Optimizing operations. In all these areas, maib strives to stay close to its clients.
Recently, we completed maib export school, a program designed for Moldovan entrepreneurs. It is one of the initiatives within maib business school, which organizes educational programs and events tailored to the challenges businesses encounter as they grow.
We are now launching maib leadership school together with the Romanian company Human Invest, the official Blanchard representative. The program lasts two months, and maib customers will be able to participate free of charge.
So, at some point, the bank starts helping Ana not only with financing but also with her personal growth as an entrepreneur?
Exactly.
Our mission goes beyond banking products. If Ana's business grows, there comes a point when she also needs to grow as a manager and leader. That is the essence of our philosophy.
The entrepreneur remains the person who leads the business, makes decisions, and determines its future direction. Our role is to stay by their side and provide the tools they need at every new stage of development.
Scaling the Business
When entrepreneurs truly understand their business, they naturally begin thinking about expansion. And that creates a need for financing on a completely different level.
When a company has already built a credit history and can demonstrate solid business results, a much broader range of financing opportunities becomes available.
In Ana's case, she can access various government-supported business financing programs through maib. For example, if there is a lending program that includes a grant component and her business meets the eligibility criteria, we can help her obtain that financing.
There is also the 373 Program, which offers financing at fixed interest rates under favorable conditions.
However, the most important thing is not a specific financial product.
Ana knows how to run a coffee shop, but she is not expected to be a financial expert or be familiar with every financing program available on the market.
Our role is to assess her situation and recommend the financing solution that best fits her business needs.
What If There Isn't Enough Collateral?
What happens if a business lacks sufficient collateral?
That does not automatically mean financing is out of reach.
We have access to external guarantee mechanisms, including DFC, EBRD, and ODA guarantees. If a company's own collateral is insufficient, in certain cases we can supplement it with one of these guarantees, allowing the business to access a larger financing amount.
The cost of such guarantees depends on the specific instrument used and generally ranges between 0.5% and 1% per year.
Helping Entrepreneurs Focus on What Matters Most
Would it be fair to say that the entire philosophy of the bank's relationship with entrepreneurs is built around enabling them to focus on their business while the bank helps them navigate financial solutions?
Exactly.
The goal of Ana, the entrepreneur at the center of our case study, is to ensure that her coffee shop operates successfully and continues to grow. Everything else is secondary.
The less time she spends dealing with supporting tasks, the more time she has to focus on her core business.
But our ambition goes beyond simply saving entrepreneurs time. We also think about how we can help them grow faster. And this is not only about financing or education.
Partnerships That Create Opportunities
Are there other ways in which the bank can contribute to business development?
Absolutely.
Let's imagine Ana comes to us with a specific idea. For example, she develops a special menu for employees of IT companies and proposes a partnership program. Customers receive special benefits, while she gains an opportunity to introduce her products to a new audience.
To support initiatives like these, we have established a dedicated partnerships team. Its mission is to continuously identify and develop new partnership opportunities.
And if Ana comes to us with an idea that we have never implemented before, we do not want our answer to be, "We don't have such a product."
On the contrary, we are willing to sit down with her and explore how we can build that program together.
We already have partnership initiatives across various industries, including agricultural machinery and computer equipment. At the same time, we remain open to entirely new formats and ideas.
Final Thoughts
Vadim, throughout this interview we have walked through the entire journey of a first-time entrepreneur. But an interview is not a step-by-step guide. What should entrepreneurs do if they discover opportunities in this conversation that they would like to explore for their own business?
They should come to maib with their business and their goals.
The bank has 35 years of experience working with entrepreneurs, and throughout that time we have been part of hundreds of thousands of business journeys.
We can assess each situation individually, understand the stage a company has reached, and work together to identify the solutions that can help both now and in the future.
Entrepreneurs know their businesses better than anyone else. We understand the financial and banking side and have seen how many other companies have successfully navigated similar paths.
Our objective is to ensure that, at every stage of growth, entrepreneurs can focus on running their business, knowing they have a partner by their side who keeps their interests at the center of everything and is always ready to help when needed.
