The Cabinet has launched a credit program for business

The Cabinet has launched a credit program “5-7-9”.

The Ukrainian government launched the state program of affordable loans, “5-7-9%” for small businesses. This was announced by Prime Minister Alexey Goncharuk, reports the Chronicle.info with reference to the Correspondent.

“This program is for those who have long dreamed of a small business, but still have not ventured into it for different reasons. Cheap loans for people provided for the establishment and expansion of small and medium business under the record low interest rates — 5, 7 or 9% amounting to 1.5 million UAH for a period up to 5 years”, — said the Prime Minister.

On the program, the government allocated 2 billion UAH for the year this will allow to issue more than 50,000 affordable loans to create 90 million new jobs and attract about 2 billion UAH of internal investments in the small business, said Goncharuk.

“We hope that in 5 years the amount of outstanding available credit will reach 30 billion UAH. To run the economy, we need to give access to cheap resources. Money should not be “expensive”, but because the government compensates the interest rate for loans that will be issued by banks,” — said Goncharuk.

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