Alliance Group Capital developed a special social project for legal immigrants working abroad, who have borrowed loans with very high-interest rate from private money-lenders. The new product enables the immigrants to repay the expensive loan with more affordable and cheap resource.
The project is implemented in close partnership with the Association of Immigrants in Italy, who is assisting immigrants in handling the necessary documents and other problematic issues.
During the initial phase, those immigrants who do not have any late payments and were paying the loans according to the schedule have been identified. At a later stage, “Microfinance Organization Alliance Group” joined the initiative and started issuing loans up to 3,000 USD with 3-year term, without any collateral.
Alliance Group Capital is the first Georgian company, who started offering loans for Georgian immigrants, living and working abroad.