Cabinet has changed the terms of available loans

The government has liberalized a set of 5-7-9% program requirements to help small businesses cope with the crisis brought on by the pandemic.

The Cabinet of Ministers has made changes to the Loans available 5-7-9% program. This was reported by the press service of the Ministry of Finance on Saturday, October 10.

In particular, the maximum level of annual income of the companies was raised to the equivalent of 10 million euros and the mandatory profitability requirement of an existing business was canceled; the decision will be made by the creditor banks.

Additionally, the changes expanded the purpose of using credit funds: the ability to purchase land both separately and in conjunction with non-residential real estate.

Changes to the 5-7-9% program were adopted as part of the government’s order to develop and approve a financial support program for small and medium-sized businesses, as well as economic entities in the cultural, creative, tourism industries, whose activities are are under the influence of imposed restrictions related to the spread of COVID. -19.

Let us remember that in Ukraine the level of the underground economy has exceeded 30%. Faced with the uncertainty arising from the crisis caused by the pandemic, companies are trying to reduce the risks of loss of resources.

It was also reported that half of Ukrainian companies plan to increase wages. 60% of CEOs and business owners surveyed expect business growth in 2021, up from 77% of those optimists a year ago.

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