Businesses obtained UAH 1.2 billion in affordable loans last week: Ministry of Economy

Last week, more than 300 entrepreneurs received loans under the government program Affordable Loans at 5-7-9% totaling UAH 1.2 billion. Since the start of the program in February 2020, banks have issued 54,600 loans worth UAH 171 billion to businesses.

Most entrepreneurs took anti-crisis loans (UAH 62 billion) and credits to refinance previously obtained loans (UAH 28.6 billion). In addition, UAH 42.3 billion was issued for anti-war purposes and UAH 10.9 billion for investment purposes. Agrarians received UAH 25.9 billion in loans to support their operations while 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 manufacturing (24%), and industrial processing (14%). Among the regions, Lviv, Kharkiv, Dnipro, Odesa, Kyiv, Vinnytsia, and Kyiv city are the leaders in terms of loan agreement amounts.

As of today, 45 banks participate in the program, with Privatbank (22,800), Oschadbank (8,200), and Raiffeisen Bank Aval (5,300) issuing the largest number of loans.

The government's Affordable Loans at 5-7-9% program allows businesses to borrow up to UAH 60 million at 0% for the duration of the wartime period of +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.