Cheap loans: banks approve only one of the 40 applications

Дешевые кредиты: банки одобряют только одну из 40 заявок

Photo: Press service of the NBU

Banks handles 1792 application for cheap loans

The majority of applications do not meet the requirements of the state program, noted in the Ministry of Finance.

As of June 10, the partner banks have received 24 720 applications for participation in the state program Affordable loans 5-7-9%, but met one of approximately 40 applications. All were issued to 605 credits in the amount of 381 million. About it reports a press-service of the Ministry of Finance on Friday, June 12.

So, according to information provided by entrepreneurship development Fund, which administers the program Affordable loans 5-7-9%, only 3500 of customers formed and gave the banks the appropriate package of documents for participation in the program. Of them 1 509 applications were rejected by the Bank as such, which can not be satisfied. 1792 still the applications are in the banks.

Among the most common causes of failure – business reputation (60% failure), inconsistencies in the business plan (11%), the discrepancy between lending purposes (12%), non compliance with the law on state support for SMEs (4%), loss of MMP activity (4%), the excess of total revenue (3%), exceeding the limit state (1%).

We will remind, in February the authorities declared the enthusiasm among Ukrainians for cheap loans. In General, the program for the year was calculated to give 50 thousand credits. But it soon became known that the majority of businesses receive waivers for their applications.

National Bank also explained why Ukrainians available cheap loans.