First Ukrainian International Bank (FUIB) continues to support Ukrainian agricultural sector. The new special product Quick loan for a tractor has significant advantages: speed and easiness of loan application consideration. The Bank studies loan application within 5 business days after receiving a minimum package of documents. There is express procedure of borrower assessment and no mortgage assessment. Financing period is up to 3 years. Bank offers a comfortable repayment schedule and takes into account seasonality of the business. Loan is available as a pilot proposal for agricultural producers of Vinnytsia, Ternopil, Odessa, Nikolayev and Dnepropetrovsk regions, but over time the product will be available in all agricultural regions.
According to official data of the Ministry of Agrarian Policy the needs of the agricultural sector in tractors is satisfied only by 62%. Therefore this FUIB proposal will be a perfect alternative to short commodity credits.
“The agricultural sector is one of the main priorities for FUIB corporate business. This the year FUIB has already lent farmers UAH 0.5 billion and attracted about 75 new clients from agribusinesses. Our product Quick loan for a tractor is our next step to support the agricultural business. Recent years agricultural industry shows strong growth and stable profitability, so we are ready finance this business and offer high quality banking services,” said Alexey Volchkov, Deputy Chairman of Corporate Business FUIB.
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