On July 28, 2020 the Executive Committee of Zhytomyr City Council and JSB UKRGASBANK signed a cooperation agreement, which is aimed at launching a local financial assistance programme for supporting micro and small businesses.
The financial support will cover the compensation for interest on the loan taken for working capital financing, measures aimed at expanding and renovation of production facilities.
“This is an important step towards support of local business”, points out Serhii Sukhomlyn, the City Mayor. “We are aware of the fact that business is facing a lot of difficulties during the epidemic. In cooperation with UKRGASBANK we offer a financial assistance programme for supporting and developing local business. The city undertakes to compensate for a part of interest on loans provided by UKRGASBANK. In fact, businesses have an opportunity to take a loan at 6% per annum (in hryvnias). We offer other banks to join this initiative. Moreover, we are currently considering the possibility to combine the local financial assistance programme with the State 5-7-9 Programme and are planning to do it; thus financial resources will become more accessible for entrepreneurs of Zhytomyr city amalgamated community.”.
According to the programme, micro and small business entities that are registered in Zhytomyr city amalgamated community can get a compensation of the interest up to UAH 150,000 per annum.
At the same time, such business entities have to meet a set of requirements, including the following:
In order to get more detailed information on the procedure for obtaining financial assistance, follow the link https://investinzhytomyr.com/news/miska-programa-vidshkoduvannya-vidsotkiv-dlya-biznesu/
