Dyadya (uncle) Vacya

I recently returned from a visit to Kherson. I visited two sets of partners there who had had assistance from MCC and I was really excited to see what most would consider "success stories." It is an interesting setting; Kherson is not one of the largest cities in Ukraine but the two sets of partners are some of the most progressive (in regards to business). One is one of our longest running funds (almost seven years) and the other is one of our younger funds. We had suggested that they combine, but one is Baptist and the other is Pentecostal and denominational lines are not so easily crossed at this point in time.

The pictures are of Vacily (from the younger, Pentecostal fund) and a billboard that advertises his Auto rental business, “Dyadya (uncle) Vacya.” In ’02 he took a small loan from the fund and started a mobile phone kiosk. This business grew to three kiosks at its peak 14 months ago, when he began selling them to start a new business. He is down to one kiosk that is currently for sale. He also has 17 cars—purchased new in the past 14 months—that he rents out.

Some of the rental car companies that are big in North America and Western Europe do not seem to have made it to Ukraine yet and Vacily seems to be getting into the car rental business at the right time. At the end of April he will take a trip to the Western U.S., where there is a significant Eastern European immigrant population, to find investors.

His plans are to expand the business and open satellite offices in seven cities. Of course he no longer takes loans from the fund since the amount that it would be able to provide him would be miniscule compared to his current needs, but it is great to think that we were able to help him get his start. And he is thankful for the assistance he received just 5+ years ago.

Dave