Oschadbank provides more than UAH 1.2B under ‘Affordable Loans’ program

Oschadbank provides more than UAH 1.2B under ‘Affordable Loans’ program

Ukrinform
Since the beginning of the state program "Affordable Loans at 5-7-9%", JSC Oschadbank has issued 846 loans for a total sum of UAH 1.23 billion to entrepreneurs, according to the bank’s press service.

"Since the beginning of the state program Affordable Loans at 5-7-9%, Oschadbank has issued 846 loans for a total sum of UAH 1,225 million to representatives of micro-, small- and medium-sized businesses,” reads the report.

Oschadbank notes that most of these loans are investment loans that are aimed at modernizing and expanding the business. The largest amount of loans were issued to agricultural and farming enterprises, as well as enterprises of processing industry, construction and trade.

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-sized 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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