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MTB Bank is one of the 5 banks of the country that joined the "Affordable factoring" program.

Individuals
15.12.2023
MTB Bank is one of the 5 banks of the country that joined the "Affordable factoring" program. - photo - mtb.ua

Yesterday, the Chairman of the Board of MTB Bank Yuriy Kralov took part in the presentation and discussion of the "Affordable factoring" program to support small and medium-sized enterprises. The event was organized by the USAID Project "Financial Sector Reform" and the Entrepreneurship Development Fund.

CEOs of banks that already work with this financial instrument, as well as representatives of the Ministry of Economy, the Ministry of Finance, USAID, and the FRP gathered in the press center of Ukrinform.

During the event, the main conditions and mechanism for the implementation of the "Affordable factoring" program were presented.

Key terms of the program:
- the compensation rate under the factoring contract is 13% per annum
- the maximum term of financing is 360 days
- financing up to 95% of the monetary claim amount
- maximum limit up to UAH 150 million (taking into account the funds received under the programs "Affordable loans 5-7-9%" and "Affordable financial leasing 5-7-9%")

Yes, for a small business, factoring looks like some kind of complicated story, believes Yuriy Kralov, but in fact there is nothing so terrible about factoring, it is very profitable: "You don't waste time on additional security, collateral, etc. Therefore, if we jointly work out all the mechanisms and carry out sufficient explanatory work among entrepreneurs, then I think that this will help both the financial market and business to move forward even faster."

The FRP estimates that at least 1,000 SMEs will use the state program of financial factoring in a year.

MTB Bank already has quite a good practical experience of working with factoring, and we will gladly advise the business and introduce you to this non-standard financial instrument, if you have not yet used it!

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