OTP Bank has funded SMEs for more than UAH 400 m under the program "Available loans 5-7-9%"
OTP Bank has funded small and medium-sized enterprises under the program "Available loans 5-7-9%" for over UAH 400 m since it had joined the program last November. Olga Volkova, Corporate Sales Director of OTP Bank, announced this.
There is a great interest among clients in this program, especially agricultural producers and small business representatives.
A further increase in lending under the program, according to O.Volkova, will be facilitated by the government's decision to increase the maximum amount of state aid to one group of companies from EUR 200 ths to 400 ths, which expands the circle of potential borrowers.
According to her, these changes will affect positively, first of all, the clients from the agricultural sector. "For such clients, state aid programs have existed for several years. And many of them have already received the support. However, the state aid limit of EUR 200 ths was a cut-off factor for obtaining additional financing under the program for some companies, " the banker stated.
As O. Volkova said, OTP Bank joined the "Available loans 5-7-9%" program in November 2020. Within the program, OTP Bank offers loans to replenish working capital for up to three years. The interest rate on these types of loans is 0% p.a. during the quarantine period and 90 days after it ends, and 3% p.a. after the specified period is over. The rate on existing loans refinancing for a client from April 1, 2021, equals 3% p.a. The loans for actual loans refunding are delivered for up to 5 years. The maximum total amount of loans provided to a client under the program comprises UAH 50 m. The program "Available loans 5-7-9%" is implemented by the government via the Entrepreneurship Development Fund over the President of Ukraine initiative.
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Public Joint Stock Company OTP Bank is a subsidiary of OTP Bank, which is the largest independent Central-Eastern-European banking group. JSC OTP Bank is one of the largest domestic banks, a recognized leader in the financial sector of Ukraine. The Bank provides a full range of financial services to corporate and private customers, as well as to small and medium enterprises. The bank entered the Ukrainian market in 1998, and since then it enjoys a staunch reputation of socially responsible, reliable and stable institution providing its consumers with services of European quality standard.
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