Within the framework of the State Program "Affordable Loans at 5-7-9%", authorized banks concluded 309 new loan agreements for the total amount of UAH 950 million last week.

Overall, as of August 3, 2020, 1,755 loans totaling UAH 3.363 billion have already been issued.

Minister of Finance of Ukraine Serhii Marchenko in his blog "Money for microbusiness: what has changed the program "Affordable Loans at 5-7-9%" noted that August 3 marks exactly six months since the start of the State Program "Affordable Loans at 5-7-9%".

"A six-months’ operation of the program proves that the greatest demand is for loans to refinance previous loans. Last week alone, the portfolio of refinanced loans grew by almost a billion hryvnias (UAH 864 million) and already exceeds UAH 2 billion (UAH 2.513 billion). In general, the amount of such applications reaches the sum of UAH 7.544 billion," the Minister noted.

However, according to the Minister, the demand of microbusiness for investment loans remains consistently high.

 "As of August 3, the amount of applications under this product amounted to UAH 5.275 billion. Authorized banks have already issued investment loans to the tune of UAH 802.3 million. That allowed to update the fixed assets of entrepreneurs by about UAH 1 billion," said the Minister of Finance.

Under a special anti-crisis loan package introduced by the Government during the effect of quarantine restrictions due to the global COVID-19 pandemic, entrepreneurs have already received loans worth UAH 51.646 million, of which UAH 47.860 million are credits to replenish current assets.

The most active participants in the program "Affordable Loans at 5-7-9%" are still entrepreneurs working in agriculture. They account for 58% of all loans issued under the program. However, the share of loans to businesses engaged in the processing industry is growing steadily. As of August 3, it was already 14%, while a month ago loans to manufacturing companies accounted for 12%. The third place - business in the field of wholesale and retail trade (12%).

In general, one in five (22%) who meet the basic criteria of the program and apply to the bank with a complete package of documents, receives a loan. This percentage of satisfaction of applications corresponds to the general statistics on banking programs.

According to the Minister, the relevance and effectiveness of the program "Affordable Loans at 5-7-9%" confirms the high demand for participation of the banking market in it.

"18 banks have already become authorized banks of the program. Two more have been selected by the Entrepreneurship Development Fund, which administers the program to participate and are awaiting the signing of relevant agreements. And eight more applications for participation in the program from banks are at different stages of consideration by the Fund," Serhii Marchenko emphasized.

As of today, a loan under the Program can be obtained in 18 banks: JSC "Oschadbank", JSC "Ukrgasbank", JSC CB "PrivatBank", JSC "Ukreximbank", JSC JSCB "Bank Lviv", PJSC "PUMB", JSC "BANK ALLIANCE ", JSC "KREDOBANK", PJSC "BANK VOSTOK", JSC "Raiffeisen Bank Aval", JSC "TASKOMBANK", JSC "Alfa-Bank", JSC "CB "GLOBUS", JSC "MEGABANK", JSC "POLYCOMBANK", JSC "CREDIT AGRICOLE BANK", as well as Creditwest Bank and OTP Bank.