Oschadbank and Cherkasy Regional Military Administration agree to compensate interest rates on loans for entrepreneurs

Oschadbank and the Cherkasy Regional Military Administration (RMA) signed a memorandum of cooperation under the program of compensation of part of the interest on loans for micro, small and medium-sized businesses (MSMEs).

The program provides for additional compensation of a portion of interest in the amount of 5% per annum on loans granted under the state program “Affordable Loans 5-7-9%” for investment needs.

The total budget of the program for 2025 is UAH 2 million.

To participate in the program, entrepreneurs must meet a number of criteria: be registered in the Cherkasy region, have valid loan agreements for investment needs, carry out business activities for at least one year, and have no wage arrears or debts to budgets of all levels. The support is also available to entrepreneurs who created, retained or restored jobs and payroll during martial law and employ at least 1% of combatants and/or persons with disabilities as a result of combat operations.

“Supporting entrepreneurs is not only a contribution to the development of the region's economy but also a strategic investment in the country's future, especially in times of war. We at Oschad are systematically working to ensure that Ukrainian business has more opportunities for development. Cooperation with the Cherkasy RMA opens up new prospects for entrepreneurs of the region who continue to work, create jobs, and support our defenders,” said Sergii Naumov, Chairman of the Management Board of Oschadbank.

“The loan portfolio of Oschadbank's MSMEs in the Cherkasy region amounts to UAH 775 million, and in 2024-2025 alone, our bank has already financed 190 projects of Cherkasy region entrepreneurs for a total of UAH 515 million. Local entrepreneurs are especially interested in grant programs, both state (about UAH 300 million of such assistance was issued in the region with the participation of Oschadbank) and international (UAH 3.7 million in grants were issued). I have no doubt that the memorandum signed today will help to increase these achievements,” commented Natalia Butkova-Vitvitska, Member of the Management Board of Oschadbank responsible for MSMEs.

“It is important for us that the region's entrepreneurs use all available development tools provided by the state and our partners and that they open new enterprises and develop their businesses. We have to work together for our economy. This year, we have launched a business support program called “5% Refund” at the regional level. We will implement it as part of the Affordable Loans 5-7-9 initiative. This is the start that signals to businesses that we support entrepreneurship development at the regional level,” said Ihor Taburets, head of the Cherkasy RMA.

The main administrator of the program is the Department of Regional Development of the Cherkasy Regional State Administration. The interest will be reimbursed through the Entrepreneurship Development Fund within the limits of the funds allocated during the budget year.

The signing of the memorandum is another step towards creating a favorable business climate and supporting entrepreneurial initiatives in the Cherkasy region.