Promissory note financing from FUIB for agribusinesses

First Ukrainian International Bank (FUIB) continues supporting the Ukraine’s agricultural sector, offering new products and services that meet the needs of agricultural businesses. The new special product – promissory note financing.

FUIB jointly with August-Ukraine LLC, leading company in production and sale of chemical crop-protection agents for the agriculture, has developed the special partner programme for financing towards purchase of crop-protection agents through an avalised promissory note. This means that the agricultural producer can purchase crop protection agents from the distributors of August-Ukraine LLC on advantageous terms with payment deferral using a commercial promissory note avalised by FUIB.

The programme provides agricultural producers with opportunity to purchase goods from the Partner of the Bank on a deferred payment basis, and its main advantage – cost of financing is several times cheaper than the classic banking loan.

“FUIB started operating in the market of financing to agricultural businesses only one year ago, and has already been recognised as the active player in this market. The Bank offers to agricultural businesses the goods and services that meet maximally their needs. Thus the loans from FUIB to agricultural businesses given over the year 2012 FUIB totalled nearly UAH 640 million, of which 70% were granted to small and medium enterprises. This year the Bank plans to strengthen further its positions in the market of financing and services to agribusinesses, which will surely be facilitated by our previous experience, professionalism of our team and trust of our agri-customers,” said Elena Rudik, Head of SME Department of FUIB.