Georgian Credit was founded in 2006 by local entrepreneurs. The company has been focused on financing small businesses since 2009, when it received its first foreign equity investment. Georgian Credit is registered as a Joint Stock Company and is regulated by the National Bank of Georgia. It is based in Tbilisi and predominantly active in the eastern parts of Georgia. The company has a good coverage of the rural areas with around half of its customers being agricultural businesses.
Dr. Giorgi Naskidashvili has been the CEO since 2010. He has an MBA and PhD in Business & Administration from the University of Bremen, Germany. He also has over 10 years of experience at executive positions working for Georgian banks.
|Borrower||MFO Georgian Credit|
|Founded||1 January 2006|
|Active on Lendahand since||13 March 2020|
Financial information per 2019-09-30
|Equity / total assets||15.40%|
|Write-off ratio last 12 months||0.00%|
|% investment amount in arrears (>90 days)||7.60%|
The current republic of Georgia is created as a result of the disintegration of the Soviet Union in 1991. The majority of the Georgians is Christian (84%) and belongs to the Orthodox Church, mainly to the Georgian Orthodox Church, although a small part belongs to the Russian Orthodox Church, especially the Ossetians. Exports include citrus, tea, tobacco and grapes. The agrarian sector producing grains, maize and fodder is intensive and highly mechanized. The livestock sector includes cattle, sheep, goats and pigs. According to the Development Program of the United Nations, more than half (54.4%) of the Georgian population lives below the poverty line.