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Affordable Loans 5-7-9%

JSC «PIRAEUS BANK ICB»  became a member of State Programme of financial support for small and medium enterprises (SME) “Affordable Loans 5-7-9%” (thereinafter referred to as – the Programme). The Programme is being implemented by Business Development Fund (BDF) by means of making loans for small and medium enterprises (SME) cheaper due to State compensation of interest rate of loans in the local currency. 

The Programme was initiated by the President of Ukraine and the Cabinet of Ministers of Ukraine and being implemented with support of the President and the Government of Ukraine.

The State Programme “Affordable Loans 5-7-9%” is implemented for lending for the following purposes:

  1. Investment projects for SME development;
  2. Anti-crisis measures aimed at overcoming of COVID-19 consequences;
  3. Refinancing of current loans rendered by the Ukrainian banks

ONLINE APPLICATION FOR
PROGRAMMEE "AFFORDABLE LOANS 5-7-9%"

Main requirements of JSC «PIRAEUS BANK ICB» under the Programme:

  • ► Requirements to Borrower: eligibility criteria for the Borrower you can find here (pdf-file, 167kb, in Ukrainian).
  • Segment: legal entities of small and medium businesses
  • Projects:
    • refinancing of loans rendered by the ukrainian banks (including JSC «PIRAEUS BANK ICB»)
  • Type of loan:
    • Non-revolving credit line
    • Revolving credit line
  • Credit amount – amount of existing loan, but up to UAH 50 mln
  • Currency - UAH
  • Tenor:
    • up to five years depending on aim of loan to be refinanced and refinancing conditions
  • Cost for Client:

      Compensation interest rate:

    • 0% p.a. – if refinancing loans in Ukrainian banks and/or JSC «PIRAEUS BANK ICB»  (applicable till March,31,2021, after this date – 3% p.a.);
    • 0% p.a. – if refinancing investment loans for medicine and medical equipment(applicable during quarantine period defined by the Cabinet of Ministers with the aim of preventing expansion of COVID-19, or restrictive measures with respect to its expansion and 90 days after it(they) have been cancelled, and after that date – 3% p.a.);
    • from 7% up to 5% p.a.* (annual turnover up to UAH 50 mio ) – if refinancing loans for investment goals connected with Client`s business;
    • from 9% up to 5% p.a.* (annual turnover above UAH 50 mio) - if refinancing loans for invest mentgoals connected with Client`s business.

      * Compensation interest rate depends on increasing or decreasing number of Client`s staff and might be changed during lending period.

      Commissions:

    •  commission for loan disbursement – 0,5% of the credit line limit (for refinancing loans rendered by other Ukrainian banks), paid once;
    •  commission for loan managing – 0,5% of the credit line limit (checking and controlling of the satisfactory fulfilment of the loan agreement conditions ), paid once.
  • Base Interest Rate – Interest Rate that includes Compensation Interest rate (is paid by Borrower) and amount of State support under the Programme (is paid by BDF) which is applicable during the validity of the Programme and calculated according to the following formula (depending on the type of business entity in accordance with the Commercial code of Ukraine):

    UIRD (3M) + 5%

    UIRD (3M) + 6%

    UIRD (3M) + 7%

Documents to be additionally submitted by Borrower to comply with the Programme requirements:

What needs to be done to get refinancing under the Programme?

1. Please check if your company comply with the eligibility criteria here;
2. Submit the Application for participating in the Programme together with the necessary documents;
3. Upon receipt of the bank’s approval sign the credit agreement with the bank. 

Information on the State Programme “Affordable Loans 5-7-9%” could be found here link

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