Proud Winner of Golden Brand for the Second Time Proud Winner of Golden Brand for the Second Time Proud Winner of Golden Brand for the Second Time

The FINANCIAL -- is strengthening its leadership position, demonstrating that it is the most trusted digital finance company in Georgia. recently received the Golden Brand 2015 Award as the most trustworthy and responsible company in the Online Loan industry for the second year in a row.

“As a consumer finance company, our brand is built around values such as transparency, honesty and constant progress. We are glad to receive the Golden Brand award for the second year in a row. This Award is a result of our teamwork, and the fast, convenient and trustworthy service we offer our customers,” Lasha Bzarashvili, General Director at 4Finance Georgia, told The FINANCIAL.

4Finance is a market leading provider of short-term loans to customers throughout the world with recent expansions into new continents. The company entered the Georgian market in 2013, with the brand name and gained a leading position in just a year and a half. offers customers short-term online loans from GEL 50 up to GEL 650 and a repayment term from one to 30 days. First-time customers can get a loan of up to GEL 250 without any additional interest which means you have to pay back only the amount that you borrowed. With each subsequent loan you can increase your ability to borrow money and with the second loan you can borrow up to GEL 450, but from the third loan upward you can get the maximum amount of GEL 650.

The customers of vary from the ages of 20 to 65. However, the 25 to 45 category are the most active customers, said Bzarashvili.

Bzarashvili believes the company’s rapid growth is a result of the careful attention paid to the needs of customers together with a strong leadership and management team.

“4Finance Company started in Latvia and over the years has accumulated more than seven million customers in 15 countries including Georgia. has become a leading player in the Georgian online loan niche because of its unique value proposition, fast performance and flawless customer service combined with the lowest interest rates compared to competitors,” Bzarashvili said.

Besides its main business, 4Finance has actively become involved in charity activities. In 2014, the company established the charity company - ERTAD.GE. The company’s main goal is to promote valuable and innovative ideas and help to get those ideas implemented by offering appropriate financial assistance.

“This is a social project with a monthly budget amounting to GEL 4,000, which supports various activities in Georgia, in fields like culture, art, sports, etc. Since 2014 our company has already financed 30 different projects, which means that 30 enthusiastic, highly motivated people have executed 30 important projects oriented on the wellbeing of Georgian society,” Bzarashvili said.

“We will keep working hard to improve our product further and continuously offer our customers innovative, flexible services,” he added.

Q. What was the main challenge for in 2015?

A. The challenge was to stay fresh and innovative. is part of a global company, hence from the very first day we launched business we implemented the best practices from our companies across the European Union. We set high bars from the beginning and it was challenging to go beyond them. However, I can confidently state that we still had progress in a number of areas.

For example, customer service is a field where there is always room for improvement. We try not to fall behind the latest trends and ensure that works with the highest standards embraced not only by Georgians, but by customers across the globe. Our customer satisfaction rate proves that we are on the right track.

Q. How would you evaluate the beginning of 2016? What have been the main challenges of this year?

A. Online service is a response to the modern technological evolution. The number of companies offering online credits is increasing rapidly, as a consequence competition increases. This service is becoming popular not only in Georgia but in Europe and the whole world as well. Simplicity, comfort and rapidity are the main factors resulting in the increasing demand for online services. makes it easier for customers to receive the money via their portable devices. - as a leader company in digital finance, will keep concentrating on creating innovative and comfortable financial services. The challenge will be to stand out from competitors, but we are confident that our unique value proposition will not stay unnoticed.

Q. What were the new services/products that you offered to clients last year?

A. In the beginning of 2015 we launched the new project - ‘Get cash in hand’. At the current moment, we have six service desks in Tbilisi and two desks in Batumi. Those desks are located in shopping areas, so, if a person needs the money at that specific moment, they can easily reach our salespeople, who will help them to fill in the application form and receive the requested amount within a couple of minutes.

In November 2015 we successfully launched the mobile application for Android and IOS devices. Furthermore, at the end of 2015 the first service centre was opened in Tbilisi, at #7, Dadiani Street.

Q. The demand for online requested loans is increasing. What do you think is the reason for such growth? Can we assume that the reason lies in the low income in Georgia?

A. With the fast moving pace of technological development, the number of customers using online services is increasing rapidly. Thus, the number of people taking out loans online is also growing. Furthermore, I do not think there is a correlation with low income. This product is popular in developed economies as well, for example in Scandinavian countries. I would rather associate it therefore with the comfort, speed and simplicity this product brings. We enable customers to better manage their cash flow with fast access to funds.

Q. What is the main purpose of taking out a loan from your company? What is the common problem for those who cannot pay back on time and how do you manage those cases?

A. Most of our clients take out online loans to cover emergency and unexpected expenses like repair bills, holiday trips, electronics, shopping etc. If a client has difficulty repaying a loan, we try to find a solution and offer the client the best way to repay his/her liability.

Q. has won the Golden Brand award for the second time. Why do you think the experts decided to hand the prize to your company?

A. Receiving a Golden Brand award is big appreciation for our company. It gives us motivation to further develop our business and take it to the next level. Our company made tremendous efforts to create consumer-oriented products and offer a financial service with competitive price and excellent customer service. Our success would not be, were it not for our international colleagues, who share with us the best practices and innovative ideas. The international spirit and experience is probably one of the most important factors in our success story.