Crystal Introduces a Special Business Product to Ukrainians in Georgia

Financial Inclusion Organization Crystal continues to furtherly support Ukrainian people through financial products tailored to their needs. Crystal is pioneer to develop such service for the Ukrainian refugees, on Georgian financial market.

The program intends to provide several financial services, including a Startup loan for those willing to launch a new business in Georgia, and a Business loan for those planning to expand existing ones. Ticket size of a Start-up loan amounts 5,000 GEL, whereas 10,000 GEL in case of a Business loan.

In addition, Crystal offers an alternative financial product – leasing to Ukrainians who need to purchase equipment or machinery for business development.

It is remarkable that female entrepreneurs will be able to take advantage of “Crystal Consulting” services. They will be provided with business counselling and mentoring on such topics as business registration, accounting/reporting, etc. The company will provide female entrepreneurs with knowledge, information, skills and contacts critical for their economic development.  

Any citizen of Ukraine, who has relocated to Georgia temporarily or permanently after the war and has the right of residence, is eligible to apply the product. At the initial stage, the loans will be available in Tbilisi and Batumi.

“The products we offer to Ukrainians for starting and developing businesses in Georgia is sign of our continuous and unwavering support towards them. Crystal has been standing by the Ukrainian people since of breakout of the war, and this support has already become an integral part of our corporate social responsibility. This initiative is a continuation of this support and hopefully, it will give many Ukrainians the opportunity to succeed”, says Melania Kuchukhidze, Crystal’s Chief Business Officer.

About Crystal JSC MFO

Crystal is the leading financial inclusion organization and the largest by assets non-banking financial institution in Georgia. It manages the loan portfolio of GEL 390 million, employing more than 1,000 members of staff, operating through 50 branches and serving more than 120,000 unique customers across Georgia. Crystal acts as a platform for economic development providing micro and small entrepreneurs and farmers with innovative financial products and services. Crystal is the first Fitch-rated non-banking financial institution in the region. In December 2018, Crystal received nation’s responsible business award “Meliora“.