Oschadbank clients can apply for a Norwegian-German grant program to strengthen energy independence of MSMEs

Oschadbank customers can apply for participation in a program that provides grant assistance to micro, small and medium-sized businesses. The program called “Support to Energy Resilience of Micro and Small Enterprises in Ukraine” is funded by the Norwegian Agency for Development Cooperation (NORAD) and the German government and implemented by the Entrepreneurship Development Fund (EDF). This is an excellent opportunity for companies that provide jobs and support Ukraine's economy to receive assistance to invest in alternative energy sources.

“We urge our clients to take advantage of this opportunity, which is another tool to support the energy independence of Ukrainian businesses in light of the constant challenges that Ukraine has faced in recent years. Oschad is a leading bank in energy lending to MSMEs. The amount of relevant loans provided by Oschadbank already exceeds UAH 1 billion. The program that starts today will help make bank lending to small businesses for these needs more accessible. As for microbusinesses, this is a chance for them to receive financial assistance that does not need to be repaid,” commented Natalia Butkova-Vitvitska, Oschadbank Management Board Member in charge of MSMEs.

The program provides grants for microenterprises in the amount of up to EUR 10,000 for the purchase of alternative energy sources. Priority is given to renewable sources. It is also possible to provide financial support up to EUR 20,000 in combination with a bank loan for small businesses (the grant can cover up to 40% of the loan amount).

The program is open to entrepreneurs who meet the following criteria:

• for microenterprises (1 to 10 employees) - annual revenue of up to EUR 2 million;
• for small enterprises (10 to 50 employees) - annual revenue from EUR 2 to 10 million;
• no debts to the budget of Ukraine;
• registration as an individual entrepreneur or legal entity no later than November 1, 2023;
• positive credit history.

To participate in the program, you need to register on the EDF portal and submit an application by March 2, 2025.

For more information, please follow the link https://grantsee.bdf.org.ua/#  

If you have any questions, please join the informational webinar to be held on February 20, 2025.

To register for the webinar, please follow the link  https://forms.gle/riAjHpgZq45TQBif9