funding gap emerging markets

Onze lokale partner in Georgië

Crystal is a dynamic and fast-growing microfinance institution (MFI), that stimulates growth of the SME market in Georgia. Crystal offers a broad range of high-quality financial services to their clients, amongst others: microcredit loans, SME and agricultural loans for start-ups and operational companies. Housing corporations, currency exchange offices and public utility companies also qualify for loans at Crystal.

With its head office located in Kutsaisi (West-Georgia), Crystal mainly focuses on (micro) entrepreneurs and farmers living and working in this region and the rural ones. Crystal is the largest MFI in Georgia out of the registered institutions.

Crystal's CEO, Ilia Revia worked in IT sector since 1998, and in Georgian banking industry since 2007. In 2009 he joined the Bank of Georgia as a project manager and progressed to the position of Deputy Chief Information Officer in 2014. He has successfully managed a number of complex change management projects such as M&A of PrivatBank Georgia with the Bank of Georgia and agile transformation initiative at the Bank of Georgia. Since 2011 Mr. Revia also served as a project management coach and consultant to number of public and private organizations in Georgia. Ilia Revia holds graduate degrees from Jonkoping University (Sweden) and George Washington University Business School, professional degree of Project Management Professional (PMP) and an undergraduate degree from Georgian Technical University.

General information

BorrowerJSC Microfinance Organization Crystal
Head officeTbilisi
Founded 1 January 2014
Active on Lendahand since 1 May 2017

Financial information per 2019-06-30

Portfolio Overview€84,029,199.69
Leverage ratio20.47%
Write-off ratio last 12 months2.32%
% investment amount in arrears (>90 days)4.76%

About Georgia

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.

Last funded project

funding gap emerging markets
+ 60 other investors

With a loan of EUR 20,000 Crystal will be able to provide some loans to smaller entrepreneurs in their portfolio.

24 months
6 months
Fully funded in 2 days on 22 June 2018.
View project