Oschadbank provides more than UAH 2B under ‘Affordable Loans’ program

Oschadbank provides more than UAH 2B under ‘Affordable Loans’ program

Since the beginning of the state program "Affordable Loans at 5-7-9%", JSC Oschadbank has issued loans for a total sum of more than UAH 2 billion to entrepreneurs, according to the bank’s press service.

"Oschadbank has turned out to be the first among state-owned banks to cross the mark of UAH 2 billion of loans provided under the state program ‘Affordable Loans at 5-7-9%’. Since the beginning of the program, Oschadbank has issued loans to more than 1,250 domestic enterprises of micro-, small- and medium-sized businesses. Of these enterprises, 62% received investment loans, 23% - anti-crisis loans, and 15% – refinancing loans,” reads the report.

The bank’s press service notes that the largest amount of loans were provided to entrepreneurs from Vinnytsia, Lviv, Kyiv (including Kyiv city) and Kirovohrad regions. Most of the 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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