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Ukrainian Government improves Business Loans Program to Support the Economy amid Coronavirus Outbreak 

The Ukrainian government deepens the mechanism of the State Program "Affordable Loans 5-7-9%". The number of entrepreneurs eligible to participate in the Program will increase as the Cabinet of Ministers adopted a decree which includes the following: 
1. new investment targets (purchase of non-residential real estate; purchase of intellectual property for entrepreneurial activities; up to 25% additional resources for the working capital);
2. the maximum amount of funds lent increased from UAH 1,5 mln to UAH 2 mln;
3. the maximum credit guarantee granted by the Entrepreneurial Development Fund increased from 25% to 35%.

At the same time the coronavirus epidemics raised the necessity of presenting the additional measures to fight the spread of disease.

These measures include:
1. new investment targets (production of medicines and medical equipment, medical care services). For these investment targets the maximum amount of funds lent will be as high as UAH 3 mln. The producers of aforementioned goods and services will also get a lower interest rate;
2. the deadline for application to receive the state assistance is the 1st of September 2020;
3. the maximum credit guarantee granted by the Entrepreneurial Development Fund for the anticrisis measures is 80%

As of 16.03.2020 more than 14400 entrepreneurs applied for the participation in the Program. The total sum of their projects equals UAH 9,5 bn. 412 applications were turned down. 169 loans (more than UAH 110 mln) were granted.