Kredobank issued the first loan simultaneously under two preferential lending programs – JCB Finance and the state program “Available loans 5-7-9%”. The amount of the loan was 1.5 million hryvnias, the rate was 7%.
The loan was provided to a farm from Dnipropetrovsk region, which purchased a JCB TH 531-70 telescopic handler from SML with these funds. Loan term – 36 months. The purchased equipment is already working on the farm.
“An important advantage of the state program” Affordable loans 5-7-9% “is the ability to combine it with any other program of soft loans. This allows the borrower to reduce the final cost of borrowed resources or save time on paperwork. Thanks to the combination of the state program with the JCB Finance program, Ukrainian enterprises can quickly purchase high-quality agricultural and construction machinery in a minimum of time and on favorable terms , ”said Yevhen Zaigrayev , Executive Director of Corporate and Small and Medium Business .
Kredobank and one of the world’s largest manufacturers of construction and agricultural equipment – the British JCB signed an agreement on an exclusive partnership in the implementation of the JCB Finance program in Ukraine in April 2019. The key advantages of JCB Finance’s proposals are fast procedures for processing loan applications or leasing for the purchase of equipment (preliminary decision in 3 days, final decision for leasing in 4-7 days and for a loan in 4-14 days), as well as the most competitive rates for Ukrainian market and opportunities for promotional offers with subsidized rates for certain models of agricultural and construction machines JCB. During the entire period of cooperation, Kredobank issued loans under the JCB Finance program to the total amount is about 447 million hryvnias.
The state program “Affordable loans of 5-7-9% was introduced at the initiative of the President of Ukraine and the Cabinet of Ministers of Ukraine to support investment projects of micro and small enterprises. Under the program, small businesses can get loans at 5%, 7% or 9% per annum or refinance a previously issued loan with full interest compensation. The implementation of the Program on behalf of the Government of Ukraine is carried out by the Entrepreneurship Development Fund through partner banks that own technologies and actively lend to the target group of the program – micro and small enterprises, including through Kredobank.