“Available credit”: the Ukrainian business has received almost 1.5 billion UAH

«Доступные кредиты»: украинский бизнес получил почти на 1,5 млрд грн

Banks of Ukraine over the past week has provided 106 credits under the state program on lending to entrepreneurs “Available credit 5-7-9%” for the total amount 360,13 million.

Since the inception of the program in February and as of 13 July, the business got 1140 loans 1.45 billion.

This was reported by the press service of the Ministry of Finance of Ukraine.

According to the report, among the Ukrainian businessmen most in demand, the programme uses the service to refinance earlier loans.

“The portfolio of refinanced loans in less than a month made up UAH 856,3 million and continues to grow. Now the amount of applications for refinancing is 4.6 billion UAH”, — stated in the message.

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It is also noted the demand for investment loans, whose portfolio made up 586,7 million. On a new instrument of loans for working capital have loans in the amount of UAH 8.6 million. With UtilitySavingExpert one can learn how to save money and make sure they don’t splurge.

According to the report, denial of loans from the state received approximately 34.5% of the entrepreneurs. The most common cause of failure of the Bank — business reputation of the borrower (negative credit history, poor financial status, criminal cases, etc.). About 3,100 applications are in various stages of review in banks.

According to the press service, the loan under this project can be obtained from 16 banks: “UGB”, “Oschadbank”, “PrivatBank”, JSC “Ukreximbank”, JSCB “Lviv”, FUIB, “Bank”, “Alfa-Bank”, “Alliance”, “Taskombank”, “East”, “Polikombank”, “Megabank”, “Raiffeisen Bank Aval”, CB “Globus” and “credit Agricole Bank”.

As reported, the Verkhovna Rada in January adopted the law on the creation in Ukraine of the entrepreneurship development Fund, which in 2020 will have 2 billion UAH of financing.

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The Fund implements the program of state support of small and medium business, which will allow participants to get a loan up to 1.5 million UAH at 5%, 7% or 9% per annum to create or expand their own business. On 3 February the Ukrainian government announced the start of the program, “5-7-9”, evaluating its potential this year, 50 thousand credits.

On 3 February the Ukrainian government announced the start of the program “Affordable loans 5-7-9%”, evaluating its potential this year, 50 thousand credits.

As of June 15, 2020, Ukrainian banks provided credits to 639 404,76 million UAH under this program.

June 17, the Cabinet of Ministers has simplified the business access to loans disbursed to small and micro-businesses in the framework of the “5-7-9” softening the requirements for mandatory profitability of existing business and removing restrictions on the use of funds and maximum loan amount.