Government changes loan program for SMEs

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The state program “available loans 5-7-9%” has changed

The government has expanded its lending program for businesses. Photo: finanzasparatodos.pe

The government of Ukraine has made changes to the state program “Available Loans 5-7-9%” for small and medium-sized businesses in relation to the spread of COVID-19 in the country. It was announced by Prime Minister Dennis Shimgal in his Telegram channel.

Now, companies with annual income of up to 100 million can get financial support. The maximum loan amount has been increased to $ 3 million. The program is being expanded for the purposes for which loans can be given, including:

  • Activities related to the production of medicines, medical devices and medical devices,
  • Covering fixed costs that are not dependent on production volume (salaries, rents and utilities, taxes and other taxes needed to preserve entrepreneurship)

The Prime Minister said that it would be possible to apply for anti-crisis measures for support during the quarantine period and within 90 days of it.

To repay the debt for anti-crisis measures, a delay of up to 9 months will apply. It has been reported that loans for anti-crisis measures will be issued at the lowest rate of interest.

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Earlier, we have written that the ministers and the Cabinet of the National Bank have developed two programs of quick credit support for small businesses. Prime Minister Dennis Shimgal said that the “Affordable Loan 5-7-9%” for its effectiveness in quarantine would be the fastest help to improve the program. The second program is built from scratch, now it is in the final stages.

Last week, the Prime Minister also announced that Ukraine spent “about a billion” hryvnias in two weeks to fight COVID-19.

Read:
Credit Holidays for Individuals: What Ukrainian Banks Offer Against Coronovirus: What Ukraine Does to Support Business
How loans work during quarantine in Ukraine: analysis
Patrion, crowdfunding, business angels: top 10 sources of financing for small businesses


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