Georgian Credit

With a loan of EUR 400,000 Georgian Credit will be able to provide working capital to approximately 250 entrepreneurs in the Eastern part of Georgia. Most of these companies are active in agriculture.

  • Local partner investment
  • 50 new jobs
  • 1000 people reached



12 months



Annual interest
Still €0 needed, 35 days to go
+ 908 other investors

Co-financing project:

Lendahand is working together with Symbiotics, a leading and well known Swiss investment company specialized in emerging markets. They are currently financing nearly 2 million entrepreneurs and households in more than 70 countries through 272 thoroughly screened local financing intermediaries (one being Georgian Credit). Symbiotics is performing a due diligence on the local partners, Lendahand selects and provides (part of) the necessary growth capital.   

Georgian Credit

Founded in 2006 by local entrepreneurs, Georgian Credit (GC) has been focused on financing small businesses since 2009, when it started receiving foreign equity. GC is registered as a Joint Stock Company and is regulated by the National Bank of Georgia. It is based in Tbilisi and employs 172 people.

GC is predominantly active in the eastern parts of Georgia, where it has a good coverage of the rural areas. This is reflected in their loan portfolio, around half of its customers are agricultural businesses (c.48% of total GLP, Apr’19). Other market segments include Services (20%), Trade (17%) and Production (2%). Currently, GC is the third largest MFI in Georgia behind Crystal (also a Lendahand partner) and MBC. Moreover, the company sees MSME banks such as FINCA and Credo as its main competitors.

Information document issuing entity (for Dutch investors)

Information note issuing entity (for Belgian investors)

Loan purpose

With a loan of EUR 400,000 Georgian Credit will be able to provide working capital to approximately 250 entrepreneurs in the Eastern part of Georgia. Most of these companies are active in agriculture.


Our mission is to create new possibilities for micro businesses and to contribute to the sustainable development of the country’s economy.


Dr. Giorgi Naskidashvili - Chief Executive Officer

An M.B.A.and PhD in business & administration from the University of Bremen, Germany, with an experience of 10+ years at executive positions at Georgian banks, a CEO of microfinance organization Georgian Credit since 2010.

Irakli Khorava - Chief Financial Office

The European School of Management graduate with 17-plus years of experience in banking and financial sector, including CEO positions at Black Sea Management Group and First British Bank, and other executive roles at banks like TBC Bank, Bank Republic and Cartu Bank.

David Metreveli - Head of Department Risk Department

With Master's degree from Tbilisi State University has 15- plus years in banking sector. Before joining the Georgian Credit in 2019 David has worked as a deputy of Internal Audit department for liberty Bank. microfinance organization Georgian Credit in 2014 as the head of human resource management, she worked for TBC Constanta Bank as a staff recruitment manager.

Tamar Benidze - Head of Human Resource Management

With master’s degree in work and organizational psychology from Tbilisi State University, Tamar has worked in the field of human resource management for 10 years. Before joining microfinance organization Georgian Credit in 2014 as the head of human resource management, she worked for TBC Constanta Bank as a staff recruitment manager.

Irakli Machaberidze - Head of Internal Audit

With master’s degree in financial management from Georgian University, Irakli has 10-years work experience at different positions in Georgian micro-financial sector. Before joining microfinance organization Georgian Credit, he worked as a head of internal audit and controlling for BIG, microfinance organization.

Ana Trapaidze - Head of Public Relations and Marketing

With 10-years work experience in the field of communications for different insurance and financial institutions, Ana held positions of public relations and marketing manager at various financial institutions. Ana has master’s degree in marketing and cultural research.

About Symbiotics

Symbiotics is the leading market access platform for impact investing, dedicated to financing micro- small and medium enterprises and low- and middle-income households in emerging and frontier markets. Since 2005, Symbiotics has structured and originated some 4,000 deals for over 425 companies in almost 90 emerging and frontier markets representing more than USD 5 billion. These investments have been purchased by more than 25 fund mandates and more than 50 third party specialized fund managers, forming a growing ecosystem and marketplace for such transactions.Symbiotics is a registered asset manager in Switzerland, a registered investment firm in the United Kingdom and the Netherlands, and has further office presence in France, Mexico, Singapore and South Africa, regrouping more than 160 employees worldwide.

Company nameGeorgian Credit
CEOGiorgi Naskidashvili

Impact of this project

  • With this investment 50 jobs are created
  • With this investment 1000 people are reached

About the investment

TypeLocal partner investment
IssuerGeorgian Credit
Funding target€400,000
Annual interest3.00%
Maturity12 months
Repayment periodSemiannually
Terms and conditionsShow
Note termsDownload
Information document issuerDownload

About the risks

What are the risks of investing money?

Our local partners cover the risk of currency exchange rates and loan defaults. They do this by maintaining financial reserves for this purpose . In addition, there is an option to claim their equity if needed. While these measures are intended to minimize the risk to funders, our local partners face risks of their own that could effect their ability to secure a loan. These include: - bankruptcy - currency exchange rates - fraud - operational risks - political and regulatory changes - natural disasters or epidemics.

If you invest direct in a company, hence not via a local partner, risks of default are not covered. As the risk that comes with direct lendings is generally higher than an investment through a local partner, the interest rate is also higher.

There is also some operational risk at Lendahand. An example might be that Lendahand is unable to find shareholders to finance their activities. In such a case, Lendahand will handle outstanding loans at the best of its ability. At the same time, our ability to legally address non-payment from local partners becomes understandably difficult.

How does Lendahand minimize the risks?

Local partners must adhere to our mission and work with us to provide loans that are affordable. This insures that local entrepreneurs have access to financing that allows them to grow their business. A local partner must also have a track record. In other words, they must have proven themselves as a meso-credit provider for SMEs. This means (for instance) that the partner must have a solid credit portfolio, along with enough buffers and equity to compensate for unexpected downturns. We also check the organizational structure of the partner and how robust their (internal) procedures are. Finally, the loans that a local partner receives via Lendahand must be in proportion to the partner's total balance sheet. A healthy balance between effectuating influence and independence is crucial. If you would like to receive more information on the financial indicators we employ, please contact us via

When currency exchange risks become too high for a local partner, Lendahand will urge the local partner to cover these risks. In some scenario's the local partner is contractually obliged to comply with these demands.

Lendahand will always conduct due diligence when a Company requests for a direct loan. To provide more insights on risks, an independent partie comes in to perform brief analysis on direct loans. The results can be downloaded on the project detail page of the direct loan. However, this analysis serves primarily as a tool for your own opinion and conclusion. Pay attention to the fact this analysis is not an investing advice.

Does Lendahand provide guarantee on the loans?

Normally we don't. Local partners take care of the repayment, even if (some) entrepreneurs are unable to do so themselves. If the local partner is for some reason unable to repay then there is a chance of partial or full loss of your money. For this reason Lendahand only selects financially solid partners based on strict criteria.

Also, for most direct loans no guarantee is provided. For these investments currency risks are covered however.

Sometimes - and only for some direct investments in Africa - our partner Sida, part of the Swedish government, will provide a guarantee with a maximum of 50%. If this is the case, it will be indicated explicitly.

Does Lendahand have a license or exemption?

Yes. The Dutch Authority Financial Markets (AFM) has provided Hands-on B.V. (with trade name 'Lendahand') in September 2016 with an investment firm license in accordance with article 2:96 of the Financial Markets Supervision Act (Wft). Placing orders on Lendahand's website is therefore an AFM regulated activity. Lendahand also meets its minimum capital requirements of EUR 125,000 following its license as required by De Nederlandsche Bank (DNB).

Lendahand uses an exemption from an approved prospectus that is available up to EUR 5 Million per year. 

How safe are my personal details?

We adhere to strict safety requirements with regards to private and payment details. All sensitive data is sent through an encrypted connection (https). Also, data is stored (encrypted) in a secured facility provided by AWS: the world largest hosting service. Customer documents can only be retrieved by a secured connection and multi-factor authentication.

What happens if the local currency devaluates?

Our local partners and Companies bear the exchange rate risks. We settle the loan, redemptions, and interest payments in euro.

Does Lendahand use a third foundation fund?

Lendahand works with Intersolve EGI: a Dutch financial institution that specialises in offering services in the field of payment settlement and electronic money. To be able to offer these financial services Intersolve EGI must comply with the applicable financial legislation. Intersolve EGI is therefore supervised by De Nederlandsche Bank (DNB) and the Netherlands Authority for the Financial Markets (AFM) and is in possession of a license to act as an Electronic Money Institution (and therefore also has a license as a Payment Institution). Your money will be deposited on a protected and secure bank account until the project you have invested in has been fully funded. Intersolve in no way has access to these funds. Once the project is fully funded, the money is transferred to the local partner or company in question.

What happens with my money if Lendahand goes bankrupt?

If Hands-On BV (containing the brand name Lendahand) would go bankrupt trades between Lendahand and payment service provider Intersolve EGI would cease immediately. Intersolve will then transfer the funds in your personal wallet to your bank account (Note: if at this time the project you have invested in has been fully funded and the money has thus been transferred to the local partner, these funds will not be transferred back to your bank account). Intersolve will then in consultation with a trustee handle all repayments between the investors and investees up until the final repayment of the last project has taken place.

Additionally, Lendahand is part of the investor compensation scheme (ICS). This scheme aims to compensate individuals and small businesses who have trusted money and or financial instruments (such as notes or options) to a licensed bank, investment firm or a financial institution in case the financial firm is unable to meet its obligations arising from claims related to the investment service (in other words, if Hands-On BV is not keeping track of the acquired notes by investors in the Wge depot correctly). The ICS guarantees an amount of up to EUR 20,000 per individual. For more information, go to

Why is my money going via Intersolve EGI?

As part of the AFM license for investment firms it is required that operational activities carried out by Lendahand (maintaining the website, contracting of local partners, legal issues, etc.) are strictly separated from financial transactions (payments made through the website). Intersolve takes care of the payments. This collaboration offers you more security, since your money is placed on a protected bank account immediately after you have made your payment.

What happens when a local partner goes bankrupt?

When a local partner goes bankrupt, there will be a chance that you lose (part of) the amount you lend. Obviously Lendahand will try to recover outstanding payments, but the success rate will be limited in such situations. For the investor there is no possibility to take action against the financial institution. From a legal point of view the local partners are separated, therefore it is recommendable to spread loans across different local partners.

About Georgian Credit

Loan portfolio€11,377,074
Equity / total assets15.40%
Write-off ratio last 12 months0.00%
% investment amount in arrears (>90 days)7.60%