UKRGASBANK has given UAH 1 billion worth loans to Ukrainian business under “Affordable loans 5-7-9%” program

UKRGASBANK holds a leading position among state-owned banks in providing loans to Ukrainian SMEs under “Affordable Loans 5-7-9%” program. The Bank has issued UAH 1 billion of “affordable loans”, 80%of which were directed towards investment purposes.

To mitigate the effects of Covid-19 pandemic, the government decided to supplement the program with anti-crisis measures. The borrowers can now get loans at attractive rate of 3% per annum for investments in medical sphere and current asset financing. In case an entrepreneur lacks collateral, the Business Development Fund may provide a guarantee to secure 80% of the loan amount.

For reference: UKRGASBANK signed an agreement with the Business Development Fund on providing soft loans for Ukrainian SMEs in January 2020. The program features reduction of loan interest rates to 5, 7 and 9 % per annum in the local currency depending on the business size and type, as well as a partial loan guarantee for micro- and small businesses.