Gazelle Finance is currently operating in Georgia and Armenia, and anticipates expanding to the region, possibly including Kyrgyzstan, and Moldova. The members of the Gazelle Finance leadership team have a long history working in these countries.
Georgia is among the top ten countries in the world in ease of doing business ratings, and has posted significant growth rates over the last decade. Georgia boasts a stable government, strong legal and financial regulatory system, and has an ideal location on the Black Sea, serving as a gateway between Europe, the Silk Road, and Asia. As a further affirmation of its deepening ties with the EU, in 2016 Georgia signed an Association Agreement with the EU, and in 2017 the EU granted visa-free travel to all Georgian citizens. Gazelle Finance’s operation in Armenia is an extension of Eurasia Foundation’s Small Business Lending Program (SBLP), which disbursed and collected more than $10.4 million over ten years with a default rate of less than 2 percent. Other countries that Gazelle is considering expansion include Ukraine, Kyrgyzstan, and Moldova.