First Ukrainian International Bank (FUIB) has signed an amendment to the agreement on participation in the "Affordable loans 5-7-9%" state program to support micro and small businesses.
From now on, even more participants will be able to join the program, as the updated conditions ease the requirements for the mandatory profitability of working businesses according to the financial statements and expand the areas of working capital financing. In addition, the updates provide for the removal of restrictions on the maximum loan amount (3 million UAH) to finance working capital and investment projects, leaving only a limit on the amount of state aid received in the equivalent of 200,000 Euro for three years.
“FUIB is among the first banks to sign renewed agreements with the Entrepreneurship Development Fund and start lending under the new terms of the program. The changes and softening of some criteria of business compliance significantly expand access to it for representatives of the micro and small business segments, as well as increase opportunities for the bank itself - to lend to clients for replenishment of working capital at a rate of 3% per annum," said Viktor Kharkovets, micro-credit manager at FUIB's department for work with small business.
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