The Cabinet of Ministers has made changes to the Affordable Loans program of 5-7-9%. This was reported by the press service of the Ministry of Finance.
In particular, the maximum level of annual income of enterprises was raised to the equivalent of 10 million euros, and the current requirement for the mandatory business profitability has been abolished – decisions will be made by the creditor banks.
In addition, the changes expanded the purpose of the use of the credit funds – the possibility of acquiring land both separately and together with non-residential real estate.
Amendments to the 5-7-9% program were adopted as a part of the government’s order to develop and approve the program of the financial support for small and medium enterprises, as well as business entities in the field of culture, creative industries, tourism, whose activities are influenced by the restrictions associated with the spread of COVID -19.
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