Minister of Economy Yulia Sviridenko visited one of the enterprises that took advantage of the state credit program 5-7-9. This is a Kievguma enterprise that received compensation in the amount of UAH 60 million.
— New equipment for Kievguma and hundreds of other industrial enterprises is a clear result of state support for the processing industry. This support provides maximum multiplier effect. We plan to extend the 5-7-9 program until 2024,” says Sviridenko.
Thanks to state compensation, it was possible to reduce the cost of a bank loan and use the funds received to purchase new production equipment, as well as electric generators and a solar power plant.
One of the features of government support for the processing industry is the multiplier effect. Kievguma orders raw materials for the enterprise in Sumy and Kremenchug, equipment – in Kharkov and Cherkassy.
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The company's products are sent to dozens of other industrial customers. For example, to factories where school buses are made.
The company occupies a leading position in the market of rubber products in Ukraine, producing more than 4 thousand types of products from rubber, latex, silicone, PVC, TPE, plastics for all sectors of industry and the national economy.
Among them are rubber seals for aluminum structures and window systems, tactical medicine, personal protective equipment, products for the oil and gas industry and utilities, products for the railway industry, agriculture, products for children, sports and rehabilitation, pets, home and everyday life.
The state program Affordable loans 5-7-9 was created on the initiative of the President of Ukraine and the Cabinet of Ministers for the development of small businesses. An individual entrepreneur or legal entity has the opportunity to receive a loan of up to UAH 50 million for a period of up to three or five years, depending on the financing purposes.
At the same time, rates of 7 and 9% can be reduced if new jobs are created. An employer can receive a 0.5% per annum discount for each hired employee, but the rate cannot be lower than 5% per annum.
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