How It Works

How it works


"Direct(Pirdapir)" - this is an online platform where borrowers meet Investors (lenders).

The "Direct(Pirdapir)" model is more efficient than a bank or a microfinance organization, both sides are rewarded: low interest rates for Borrowers and high returns for Lenders.

Those hoping to submit a loan application online should proceed with the following steps:

  1. Registration;
  2. Authorization and account number synchronization;
  3. Completion of the application and final submission;
  4. Interest Rate and Rating assessment via “PirDaPir”’s platform; acceptance or rejection.

The platform takes the following actions:

  1. Borrower and Investor verification;
  2. Loan application verification;
  3. Assessment and assignment of interest rate and rating to loan applications;
  4. Posting loan application on the platform.

Investor / Lender should perform the following actions:

  1. Registration and verification;
  2. Linking the account and depositing GEL 500 to the account for further use;
  3. Reviewing loan applications;
  4. Selecting and funding loan applicants.

Loan applications will be placed on the platform for 5 days. Loans may be funded individually or by several simultaneous investors.

The investor and the borrower pay the amount stated by the platform using the following methods:

  1. Credit/Debit Card via;
  2. Express Pay boxes using their Personal Identification number;
  3. Transfer totheir Pirdapir account at Bank of Georgia (Account No GE31BG0000000790917300) or TBC Bank (Account No GE60TB7709136020100002), by using your name, surname and personal identification number (or the unique code);
  4. Visit any Bank of Georgia or TBC Bank branch and deposit the money to your PirDaPir account using your name, surname and the personal identification number (or the unique code).

Failure to repay the loan in a timely manner will result in:  the Borrower's credit history being tarnished and the case will be transferred to a collection agency and court of law should recovery prove problematic.