Oschadbank provided affordable loans worth UAH 600M

Oschadbank provided affordable loans worth UAH 600M

Ukrinform
Since the beginning of the state program "Affordable Loans at 5-7-9%", JSC Oschadbank has issued loans worth UAH 600 million to entrepreneurs, according to the bank’s press service.

"Affordable Loans at 5-7-9%", one of the most successful government programs, has already gained great popularity among Ukrainian businesses since its launch only six months ago. Oschadbank immediately supported it and provided [loans worth] UAH 600 million so far. Most of these funds are directed to investment needs and business development in Ukraine. This is a very positive trend for the economy, as the funds provided will now work in business projects, and will return in the form of VAT and other revenues from business to state and local budgets in the coming years," said Oschadbank Chairman Andriy Pyshny.

The company noted that most of loans were provided to Ukrainian farmers for the purchase of agricultural machinery and equipment.

The leaders in terms of the number of agreements concluded under the program are Zaporizhzhia, Vinnytsia, Lviv, Donetsk, Odesa, Chernivtsi and Kyiv regions.

As reported, the Cabinet of Ministers approved a resolution to launch the program "Affordable Loans at 5-7-9%" from February 1, 2020. The state support program for micro and small businesses allows 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.

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