Almost 100 credits issued under program Affordable Loans

Almost 100 credits issued under program Affordable Loans

Ukrinform
As of March 2, 97 credits worth UAH 66.11 million were issued under the state program “Affordable Loans at 5-7-9%”, according to the Finance Ministry.

"The first month of the state program ‘Affordable Loans at 5-7-9%’ has passed. As of March 2, 97 loans worth UAH 66.11 million were issued under the program. Dozens of entrepreneurs received the opportunity to expand their existing business," reads the statement.

The ministry noted that the program turned out to be very popular. Thus, only during the last week of February, the number of applications for the program rose by 145%: from 6,190 (on February 20) to 15,190 (on February 26).

As reported, the Cabinet of Ministers approved the resolution to launch the program "Affordable Loans at 5-7-9%" from February 1, 2020. The state support program for micro and small businesses will allow participants to receive up to UAH 1.5 million of available credit at 5, 7 or 9% for creating or expanding their own business. It is estimated that about 50,000 borrowers will be able to participate in this program in 2020, which will boost employment in Ukraine, develop innovative and efficient businesses, and thus expand the tax base and increase revenues to the state budget.

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