From Grants Funding to New Employers: The Role of Oschadbank in Shaping the Economy of the Future

In the recent years the veterans' entrepreneurship has turned into one of the fastest-growing segments of the Ukrainian economy. Government grants, preferential loans and advisory programs have encouraged thousands of veterans either to start or expand their own businesses.

To find out which industries they’re choosing, what helps them after coming back to civilian life and what impact veteran-owned businesses can have on Ukraine’s economic recovery, we’ll look into the experience of Oschadbank, ranked first among the state-owned companies in the “Leaders of the Veteran Economy” ranking of the special project “Veteran Economy”.

More Than Just a Social Project

Initially, the veterans' entrepreneurship was viewed mainly as a tool for reintegration into civilian life. Owning a business was expected to help veterans regain financial independence, find a new professional role and adapt to life outside the military. However, experience has shown that its significance extends far beyond social support.

Thousands of veterans and their family members have already participated in Oschadbank’s programs. In its capacity as the authorized state bank, Oschadbank  approved the disbursement of UAH 1.35 billion of grants under the veteran’s track of the “eRobota” program for more than 2,400 veteran entrepreneurs and their family members. In addition, the bank’s own project  “BUSINESS 4.5.0.”  has enabled the opening of 1,918 accounts for 1,903 veteran clients and the issuance of 127 preferential loans totaling over UAH 210.5 million.

The scale of this work illustrates just how the very understanding of veteran-owned businesses has changed in recent years.

“The key outcome is that veterans demonstrate a high level of financial discipline and a strong desire to succeed. At the same time, veteran-owned businesses differ from traditional small and medium-sized enterprises primarily in their social nature. Veterans start businesses not only because of profit. They strive to support their comrades, create jobs for them and help them to adapt to civilian life through working together,” – notes Natalia Butkova-Vitvitska, a Member of Oschadbank’s Management Board, in charge of MSMEs

That is precisely what makes it difficult to view veterans' entrepreneurship solely as a tool for reintegration. Gradually, it is evolving into a distinct sector of the economy with its own development logic.

According to the bank, an increasing number of veterans today focus on scaling their businesses. While a few years ago most started with small family projects or self-employment, the number of those purchasing franchises, launching business chains or planning to build large companies is now on the rise.

At the same time, access to financing no longer poses the main barrier. The availability of government grants and special loan programs has made it significantly easier to start a business. Instead, the importance of knowledge and entrepreneurial skills continues to grow.

“BUSINESS 4.5.0.”: Veterans Support - Turning Ideas into Businesses

As of June 2026, the “BUSINESS 4.5.0.” project provides veterans and their family members with comprehensive support for setting up and growing businesses.

• 1,903 veteran clients;
• 1,918 accounts opened;
• 127 preferential loans;
• over UAH 210.5 million in funded projects;
• specialized loan products for purchasing franchises and launching agribusinesses;
• advisory support and preferential rates for banking services.

This primarily involves the need to quickly master the necessary civilian skills: financial planning, legal matters, bookkeeping as well as business processes building. Another equally challenging aspect remains the psychological transition from a strictly structured military system to entrepreneurship, where many decisions must be made independently.

Why Consulting Is Sometimes More Important Than a Loan

That is precisely why the “BUSINESS 4.5.0.” project was established as more than just a loan program. It combines preferential financing, advisory support and special terms for banking services. For startups there are specific loan products available for purchasing franchises or launching agricultural businesses and entrepreneurs receive support prior to receiving the funds.

In practice, the greatest number of questions arise right at the start. Most often veterans seek financing to purchase equipment or vehicles, develop agricultural production or launch a business through franchising models. At the same time, the key assistance is needed yet before the loan agreement is signed.

Indeed, the stage of preparing a business plan, drafting documents and completing grant applications most often determines whether an entrepreneur will receive funding.

Following the receipt of funds the nature of inquiries changes. Entrepreneurs become interested in proper financial reporting, compliance with grant program terms, interaction with regulatory authorities as well as the company's operational organization.

In fact, the bank has increasingly become not only a financial partner but also a consultant accompanying entrepreneurs from the initial business idea to the company’s stable operation.

The structure of veteran entrepreneurship itself is changing just as noticeably. While coffee shops, auto repair shops and small retail stores used to be among the most popular ventures, nowadays veterans are actively entering technology-driven sectors. Drone manufacturing, IT projects, defense industry enterprises and precision agriculture solutions have emerged as new front-runners.

At the same time, the bank believes that the processing industry, logistics  and green energy hold significant potential. It is precisely these areas where the military experience of many veterans could become a major competitive advantage. Competencies like managing people, resources and complex processes under uncertain conditions can be highly valued in the civilian economy as well.

From Support to Economic Recovery

Based on Oschadbank’s observations, the profile of today’s veteran-entrepreneur differs significantly from the traditional image of a small business owner. In most cases, these are people between the ages of 25 and 45 accustomed to dealing with high levels of responsibility and uncertainty. It was the war that formed the qualities they now find useful in building their own businesses.

“Their main motivation comes from providing for their families and contributing to the country’s reconstruction. Having lived through the war, they possess a unique resilience to stress and know the value of making decisions in critical situations. They always carefully estimate the risks involved. At the same time, they greatly appreciate honesty, transparent rules and open communication on the part of the bank,” - says Natalia Butkova-Vitvitska.

Therefore, financing for veteran-led businesses is gradually moving beyond traditional bank lending. For this group of entrepreneurs, it is important not to have access to capital only, but rather to have clear rules, professional guidance and the possibility to quickly get advice exactly when it is truly needed.

Supporting veterans as future employers remains an equally important area of the bank's focus. Every successful veteran-owned business means more than just a stable income for its founder; it creates new jobs, generates tax revenue, and contributes to the development of local communities.

This is precisely why there exists growing discussion today not only around supporting veterans but also about their contribution to the future of the Ukrainian economy.

“The veteran-led business sector shall become another cornerstone of Ukraine’s domestic economy. That means hundreds of thousands of new jobs being created by people choosing to build their future right here in Ukraine. Veterans will not move their capital abroad - they will invest in their communities, pay local taxes, thereby stimulating the growth of Ukrainian manufacturing. In fact, they will gradually transform from recipients of state support into major contributors to the economy,” - states the bank.

At the same time, the full-scale development of the veteran economy requires more than just the involvement of the business or banking sectors. According to Oschadbank, the next step must be the improvement of government policy.

In particular, tax incentives for veteran-led startups within the first few years after launch could prove to be among the most effective tools. Equally important remains the issue of insurance against military risks for businesses operating in frontline regions. This would allow for much more active business development precisely where it is most needed for the country’s economic recovery.

Meanwhile, Ukraine's international partners could focus their efforts both on funding and on long-term programs for business education, mentorship  and support in bringing Ukrainian veteran-owned companies to foreign markets.

“eRobota”: outcomes of the veterans’ track via Oschadbank

Oschadbank, as the state-authorized bank, implements the veterans’ track of the “eRobota” program.

As of mid-June 2026:

• UAH 1.35 billion of grants have been approved;
• UAH 1.15 billion actually disbursed;
• 2,400 veterans and their family members received support;
• the implementation of these projects will create over 5,000 new jobs.

Another key focus for Oschadbank continues to be the reintegration of veterans back into the work environment within large companies. The bank believes that veterans' reintegration does not represent a social mission, but rather an investment in human capital.

“Losing experienced employees due to a lack of effective adaptation means losing expertise and incurring direct economic losses. Exactly by this reason the  employers should implement mentoring programs, help veterans to update their professional skills, make workplaces accessible to people with disabilities, train their teams to interact effectively as well as provide flexible schedules during the first few months after their return,” - as highlighted by Oschadbank.

The bank firmly believes that it is the combination of effective reintegration, access to financing and expert support that creates the environment in which veteran-owned businesses cease to be the exception and instead become a natural component of the Ukrainian economy. According to Oschadbank, the veteran economy should evolve in precisely this way over the coming years.

Through the next five years, the success of the veteran economy would be evaluated based rather on actual economic indicators than on the number of individual support programs. The bank considers that more than 60% of veterans, upon returning from service, should either be successfully employed or running their own businesses. The share of veteran-owned businesses in the country’s gross domestic product should reach 5–7%, and Ukrainian veteran-owned brands should confidently operate not only in the domestic market but also export their products to various countries around the world. Oschadbank strongly believes that this very approach will make veteran entrepreneurship one of the drivers of Ukraine’s post-war recovery.

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