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  • Government launches cheap credit program for business, says Oleksiy Honcharuk
    Communications Department of the Secretariat of the CMU, posted 04 December 2019 19:16

    The Government at the initiative of the President of Ukraine is shaping a powerful instrument - a support program for micro and small businesses which will be launched from February 1, 2020. This was announced by Prime Minister of Ukraine Oleksiy Honcharuk.

    "The goal of the program is very simple - to stimulate the emergence of new entrepreneurs and to encourage our citizens working abroad to return home and start a business here," the Prime Minister said.

    According to the Head of Government, all necessary decisions for the launch of startup are currently being prepared. Soon it will become possible to file an application for the program.

    Credit value is up to UAH 1.5 million for 5 years.

    The Prime Minister explained the ratio of interest rates: "The rate at 5%, for example, is obtainable for businesses whose revenues  do not exceed UAH 25 million and if they create at least two jobs in the country. A 7% rate is meant for  businesses with revenues up to UAH 25 million that do not create new new jobs (but for every new employee the rate will be reduced by 0.5%!); 9% per year  for businesses with revenues up to UAH 50 million".

    "Participation will require a business plan if you are planning a business from scratch. If you are already working, then a positive financial and credit reputation and payment discipline is required", Oleksiy Honcharuk stressed.

    It should be noted that only new businesses will be able to participate in the program, and existing businesses - only those who have been operating for a minimum of 12 months. At the same time, the participant invests 20% of own funds from all expenses.

    More details coming soon!

    Video: Cheap Credit Program for Business "Return and Stay"!

    Government launches cheap credit program for business, says Oleksiy Honcharuk