How many loans have been issued by banks for business

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In the past week, banks have provided loans totaling $ 43 million.

Ukrainians will not be able to get loans before salary. Photo: theatlantic.com

As of June 1, Ukrainian banks issued 546 loans to small businesses and entrepreneurs, amounting to $ 339 million under the state program “Available Loans 5-7-9%”. Reported on Website Ministry of Economic Development, Trade and Agriculture.

In the past one week, banks provided loans totaling $ 43 million. It has also been reported that two important programs took place last week for the development of the “affordable loan 5-7-9%” program: a loan was issued for the development of a startup and the first loan under the guarantee of the Enterprise Development Fund was issued. The entrepreneurs issued both loans at Ukragsbank.

Customers of Ukrgasbank, Oschadbank, PrivatBank, Ukreximbank, Bank Lviv, FUIB, Alliance Bank, Raiffeisen Bank Aval, Tasbank, Vostok Bank, Kredobank and Globus Bank can already avail affordable loan 5-7-9% program support.

Program Conditions:

  • Banks issue loans to small and medium-sized businesses with revenues of up to 50 million.
  • The state compensates the entrepreneur for part of the interest on the loan – rates range from 5 to 9% per year, depending on the number of jobs created with the possibility of a quarterly decrease in the interest rate.
  • From March 1, the state program “Affordable Loans 5-7-9%” includes an additional option – a partial loan guarantee. The tool allows you to solve the problem of lack or lack of collateral from the borrower.

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Earlier, the government had increased the available credit limit from 5-7-9% to US $ 1.5 million to 3 million, and expanded the investment objectives for which an entrepreneur could get a loan under the program. The program was also complemented by an anti-crisis package to support micro and small businesses for the duration of government-initiated quarantine measures to address the Kovid-19 epidemic in Ukraine.

Read: How loans work during quarantine in Ukraine: analysis


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