MFI Report

JSC Microfinance Organization “FinAgro” was established on November 16, 2007. The head office of the organization is located on 1a Mshvidoba Ave. Gori. Georgia. Which, in turn, provides Shida Kartli Region with micro credit services. The “FinAgro” has three branches located in Telavi, Tsnori, and Marneuli. The abovementioned branches are located respectively in Kakheti and Kvemo Kartli Regions.
“FinAgro” is eligible to:
Provide individuals and groups with consumer, pawnshop, mortgage, non-secured, group and other types of loans;
Provide consulting services related to the microfinance;
Receive loans from resident and non-resident individuals and legal entities;
Provide other financial services and operations governed by Georgian legislation (for example: micro leasing, factoring, currency exchange, securities, issuing and realizing bonds and other related operations);
It is forbidden for JSC Microfinance Organization “FinAgro” to receive deposits from individuals or legal entities.
The group of individuals working in “FinAgro” have been operating in the microfinance field for 10 years since 1997. “FinAgro” mainly operates in agricultural sector. Its operational area through the four departments covers almost every rural district of the East Georgia.
For December 31, 2008 the outstanding portfolio of the “FinAgro” represents GEL 3 428 462 which in turn is allocated to 594 active borrowers. “FinAgro” is established by Georgian Rural Development Fund with part of its shareholder’s equity of GEL 3 673 444. Georgian Rural Development Fund is a 100% owner of the “FinAgro’s” shareholders’ equity. Cacher