Affordable Loans Program: Government extends funding to UAH 35 bln

"Under the updated program ‘Affordable Loans at 5-7-9%’, the size of the loan portfolio is estimated at UAH 35 billion. This is the amount of money that micro and small entrepreneurs can potentially get, according to preliminary estimates of experts," said Minister for Development of Economy, Trade and Agriculture Ihor Petrashko.

At the same time, he noted that if necessary, the amount of funding could be increased.

“When planning the program, we estimated the size of the loan portfolio up to UAH 35 billion. If we see that the needs are greater, then we will increase the amount,” Petrashko said.

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. The maximum loan amount was initially set at UAH 1.5 million. In mid-March, the sum was raised to UAH 2 million.

On April 15, the Cabinet of Ministers increased the maximum amount of loan under the program to UAH 3 million, and also expanded the list of investment purposes for which these loans could be granted

iy