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.
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)
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.
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.