Crediting Business during the Wartime

In his address of March 17, 2022, President Volodymyr Zelenskyi announced a decision to expand the crediting program for entrepreneurs on the basis of the “5-7-9%” program. This decision stipulates that any business will be able to get a credit at 0% during martial law and another 1 month after the war. In the future, the minimum interest rate on the credit will be 5%. As for the volume of such a credit, it can reach UAH 60 million.

Undoubtedly, such a mesure will help support businesses that have found themselves in a difficult situation since the beginning of the war, help save jobs and, if possible, expand production. In such critical conditions, a significant expansion of crediting will have a positive impact on the activities of individual enterprises and strengthen the economic stability and defense capabilities of the whole state.

The “Affordable Credits 5-7-9%” program is regulated by the procedure for providing financial state support to small and medium enterprises, which was approved by the Resolution of Cabinet of Ministers of January 24, 2020 No. 28.

The corresponding decision to obtain a credit at 0% is included in the Resolution of the Cabinet of Ministers of March 18, 2022 No. 312 “On Amendments to the Resolutions of the Cabinet of Ministers of Ukraine of January 24, 2020 No. 28 and 29”. It is necessary to pay attention to changes in par. 13 of the Resolution of the Cabinet of Ministers of January 24, 2022 No. 28, which provides for a credit at 0% during martial law and within one month after its termination or cancellation, and after the end of this period and before the end of the crediting period – up to 5 percent per annum.

At the same time, in order to carry out spring sowing campaign, the Government also adopted the Resolution “On Amendments to Certain Acts of the Cabinet of Ministers of Ukraine to Provide Credit Support to Agricultural Producers”, which provides for extremely favorable crediting conditions for agricultural producers.

For detailed information on business crediting during the war, we recommend to follow the official resources:

Ministry of Finance of Ukraine

Fund for Development of Entrepreneurship

State Program “Affordable Credits 5-7-9

Read more:

Payment of a Single Tax during Martial Law

Some Aspects of State Registration During Martial Law