Maib is launching business payments in instalments, a new financing solution for Business Banking customers, through which certain eligible transactions that have already been carried out can be financed retrospectively.

Traditionally, a company decides how it will cover an expense before making the payment. The new maib product changes this approach and offers businesses an option even after the payment has been made.

With business payments in instalments, the customer selects an eligible transaction that has already been made in maib business web, chooses the financing period, and the financed amount is transferred to the company’s current account. The financing is then repaid in equal monthly instalments.

An option even after the payment has been made

In the day-to-day running of a company, a further need – sometimes even an unforeseen one – may arise after a significant payment has been made. Paying for stock may be followed by a new order; purchasing a piece of machinery may lead to an order requiring raw materials; and repairing a truck may be followed by the need for fuel, tolls and the next journey.

In such situations, an eligible transaction that has already been carried out can be financed retrospectively through business payments in instalments.

Sergiu Statii, Head of the Business Banking Lending Department at maib

“You’ve made a significant business payment, and immediately afterwards the next expense arises. That’s where the idea for business payments in instalments came from. We asked ourselves: why does financing have to be decided only before the payment is made? Why shouldn’t there be an option after the payment has been made? And so we created it!”

How business payments in instalments work

The process is simple:

You’ve made the payment

→ select the eligible transaction in maib business web
→ choose the finance period
→ receive the financed amount into your company’s account
→ repay the amount in equal monthly instalments

The product is available on maib business web and can be used for multiple eligible transactions, within the individual limit available to the customer.

Transactions carried out in the last 90 days can be selected, with a minimum value of 1,000 MDL.

Financing is provided in MDL and may cover up to 100 per cent of the value of eligible transactions, subject to the customer’s available limit. The maximum amount can be up to 2,000,000 MDL, and the financing period can be chosen between 1 and 12 months.

Eligible customers

The product is intended for eligible Business Banking customers in the agricultural and non-agricultural sectors, including micro-enterprises, small and medium-sized enterprises, start-ups and other eligible categories of entrepreneurs and professionals.

Client and transaction eligibility, as well as individual financing terms, are determined in accordance with the product criteria and can be checked on maib business web.

Business payments in instalments, directly on maib business web

Eligible clients can access the option directly from maib business web, starting from the transactions available for financing.

Business payments in instalments thus extends the role of maib business web beyond making and managing payments, transforming the transaction history into a new gateway to finance.

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