Businesses received affordable loans worth UAH 6.2 billion last week: Ministry of Economy

Over 2,400 entrepreneurs received loans under the government program Affordable Loans at 5-7-9% for a total of UAH 6.2 billion last week. Since the start of the program (February 2020), banks have issued 57,000 loans worth UAH 177.9 billion to businesses.

Most entrepreneurs took out anti-crisis loans (UAH 62 billion) and anti-war loans (UAH 48.2 billion). A UAH 28.7 billion resource was disbursed to refinance previously obtained loans, and UAH 10.9 billion was disbursed for investment purposes. In addition, agrarians received UAH 26.4 billion in loans to support their operations, and trading companies took out UAH 1.5 billion in loans to replenish working capital.

The most frequent recipients of loans under the program are companies operating in agriculture (53%), trade and production (24%), and industrial processing (14%). Among the regions, Lviv, Odesa, Dnipro, Kharkiv, Kyiv, Vinnytsia regions, and the city of Kyiv are the leaders in terms of loan agreement amounts.

As of today, 45 banks participate in the program, with Privatbank (24,900), Oschadbank (8,300), and Raiffeisen Bank Aval (5,300) having issued the largest number of loans.

The Government's Affordable Loans at 5-7-9% program allows borrowers to raise up to UAH 60 million at 0% for the period of wartime +1 month. Retailers have access to loans of up to UAH 1 billion at 5% per annum, which allows them to pay their suppliers on time and replenish their financial balance.

In addition, the Government has expanded the program of affordable loans for businesses destroyed by the hostilities. Entrepreneurs will be able to get a loan for the restoration of production facilities at 9% for up to 5 years in the amount of up to UAH 60 million.