Oschadbank implements a partnership program with Deere & Company

Yesterday, John Deere Financial and Oschadbank signed a cooperation agreement. The purpose of this cooperation is to support Ukrainian farmers in difficult wartime by providing financing for the purchase of new machinery on terms better than the general market ones.

Financing is provided for a period of 1 to 5 years at a fixed or variable rate to choose from. There are no fees for disbursement and early repayment of the loan. The down payment starts from 20 per cent of the cost of the machinery.

The benefits of the partnership program include

- priority consideration of loan applications and reduced time for making loan decisions;

- no commission for granting a loan;

- a simplified list of required financial documents for obtaining a lending decision;

- no requirements for valuation and notarization of collateral;

- prompt communication with a personal manager responsible for partnership programs at the regional level.

"This is the first partnership program in Oschad since the beginning of active military actions that has been implemented directly with the manufacturer, not a regional dealer. The number of our micro, small and medium-sized business customers is increasing, and therefore the number of beneficial partnership programs will also continue to grow.

Currently, Oschadbank has more than three hundred such programs, which, for instance, allow farmers to cover almost all their needs for machinery and consumables," emphasized Natalia Butkova-Vitvitska, Member of the Management Board of Oschadbank responsible for MSME.

"In these exceptional times, we realize that we need to provide even more financial solutions for Ukrainian farmers. Thus, John Deere has expanded its range of existing financial partners in Ukraine with another partner, Oschadbank , which is one of the largest and most active banks in the market. The goal is to support John Deere customers with affordable financing at below-market interest rates," said Peter Sachse, Division Business Manager of John Deere CIS, General Manager of John Deere Ukraine.

Deere & Company (www.JohnDeere.com) is a global leader in the supply of agricultural, gardening, construction and forestry equipment. The company helps its customers push the boundaries of what is possible in a more productive and sustainable way to improve their living standards. Its technology products, including the John Deere 8R autonomous tractor, See & Spray™ and E-Power excavator, are just some of the many tools that help meet the world's growing needs for food, housing and infrastructure. Deere & Company also provides financial services through John Deere Financial.

John Deere Financial is one of the largest providers of financial services to customers in the agriculture, horticulture, construction and forestry industries.

Oschadbank is a leading Ukrainian universal commercial bank, 100 percent of which is owned by the state. Since the beginning of hostilities, Oschad, as a systemically important bank, has focused its efforts on ensuring smooth operations at all levels. Oschadbank has the largest network of about 1,200 branches and provides services to more than 6.6 million customers.

Another priority of Oschadbank during the full-scale war is to provide credit support to the Ukrainian economy. In the first half of this year alone, Oschadbank's loan portfolio to micro, small and medium-sized businesses (MSMEs) increased by UAH 3 billion and exceeded UAH 20 billion. This was achieved due to the fact that Oschad offers various programs (national, regional and international) to help Ukrainian businesses, as well as by simplifying the financing mechanism and liberalizing its terms. Since recently, MSME clients have been able to submit an online loan application and receive a preliminary decision on lending within 24 hours using the OschadBusiness service.