About the programme
Financing from the European Fund for Southeast Europe (EFSE) through the Ukrainian Sub-Fund (USF) provides support to MSMEs, covering business needs during periods of instability. The programme offers grants of up to EUR 100,000 (up to 25% of the loan amount) for farmers and enterprises affected by the war or involved in recovery efforts, helping to strengthen the resilience and development of Ukrainian businesses.
Programme details
Loan amount
Up to EUR 500,000 — for working capital replenishment and the purchase of fixed assets
Up to EUR 1,000,000 — for the purchase of fixed assets with a term starting from 3 years
Currency
UAH, EUR, USD
Purposes and term
Working capital — up to 60 months
Fixed assets — up to 120 months
Repayment schedule
Annuity
Adapted to the seasonality of the business
Limits
Financing cannot be provided for manufacture of weapons, military ammunition, dual-use products and any purposes and activities listed in the Exclusion List
Possibility of combining with the “Affordable Loans 5–7–9%” programme
In line with the EU definition of MSMEs, the enterprises must have:
- Up to 250 employees.
- Annual turnover — not above EUR 50 million (or its equivalent in other currencies).
- Or annual balance sheet — not above EUR 43 million (or its equivalent in other currencies).
Categories of participants:
- Farms
- Businesses heavily affected by the war
- MSMEs investing in essential reconstruction, provided they meet the established eligibility criteria
Participant eligibility criteria:
Financial standing
Sub-borrower must demonstrate a stable financial position, including a positive operating profit based on the latest available annual financial statements.
Transparency and KYC compliance
Sub-borrower must pass all Bank KYC checks and comply with legislation on anti–money laundering, counter‑terrorist financing, prevention of prohibited activities, as well as the standards and recommendations of the Financial Action Task Force (FATF).
Tax compliance
Compliance with tax legislation in accordance with the applicable regulatory framework, with no indications of tax evasion.
Credit history
MSME must be able to demonstrate a positive credit rating and a solid loan repayment history.
Active and operating business
MSME must be actively engaged in operational activities, must not have filed for bankruptcy/liquidation, and must not be undergoing legal or corporate/business reorganisation or restructuring.
Registration and location
MSME must be registered in the territory controlled by the Government of Ukraine and operate in accordance with Ukrainian legislation. Agricultural enterprises must be registered in the State Register of Agricultural Enterprises.
Business ownership
At least 51% of the ultimate business owners must be Ukrainian citizens, and the ownership structure must be transparent and verifiable.
No affiliation with the Bank
MSME must not be an affiliated party of the Bank (as defined in Article 52 of the Law of Ukraine “On Banks and Banking Activities”), a family member of Bank employees, or have any conflicts of interest with Bank employees (as defined in Articles 2 and 55 of the same Law).
One grant per group of companies
The Bank may provide only one grant to a single business or a group of related companies.
Prohibition on military production
MSMEs involved in the production of weapons, ammunition, or dual‑use goods are not eligible for the grant. A full list of exclusions is available here.
Programme partners
Finance in Motion
Finance in Motion structures, manages, and advises on the management of nearly €4 billion across nine funds, all of which are classified as Article 9 (under the SFDR). These private market funds aim to achieve a positive impact on people and the planet through regional financial intermediaries, direct investments, advisory services, and capacity building.
Founded in Germany, the company has local expertise from Latin America to Central and Eastern Europe and has been investing in emerging markets for over 15 years.
EFSE
The European Fund for Southeast Europe (EFSE) is an impact investment fund established in 2005 to promote economic development and improve welfare in Southeast Europe and the EU's Eastern Neighbourhood.
EFSE was initiated by KfW Development Bank with financial support from the German Federal Ministry for Economic Cooperation and Development (BMZ) and the European Commission. The fund is the first public-private partnership of its kind, with capital provided by donor agencies, international financial institutions, and institutional investors.
The fund is managed by Finance in Motion and Hauck & Aufhäuser Fund Services S.A., Luxembourg.
Useful materials
Farms relate to family-owned farms, entrepreneurial farms, or other forms of MSMEs engaged in primary agriculture with up to 2,000 hectares of agricultural land, and/or livestock farms with up to 1,000 cattle, up to 25,000 pigs, up to 500,000 poultry heads, or other animals or poultry operating in line with applicable Ukrainian legislation with respect to animal identification and registration, accurate maintenance of field book records, and animal welfare practices.
Businesses heavily affected by the war include:
- MSMEs located and/or operating in territories that have most suffered from the Russian War, i.e. high-risk areas(1).
- MSMEs displaced or physically relocated from territories that have most suffered from the Russian War including enterprises that have nominally retained their registration in war-affected areas but carry out their main economic activities in safer areas.
- MSMEs (with 5+ employees) across entire territory of Ukraine, that have suffered significant loss, physical destruction, or loss of assets as a direct result of the war or significant loss in production capacity (>30% drop in staff count).
- MSMEs owned/led(2) by vulnerable groups (e.g. women, IDPs(3), veterans, youth under 35 years old, disabled individuals).
MSMEs investing in essential reconstruction include:
- MSMEs in all sectors that are investing in energy resilience and security;
- MSMEs operating in value-added manufacturing & processing sectors (e.g. food processing, pharmaceutical, electronics, textiles, furniture industries, construction materials) investing in modernization and digitalization efforts for improved resilience
- MSMEs operating in the transport and logistics sector, addressing the damage in the local transport and logistics infrastructure (including digital infrastructure).
1. Applicable legislation includes: Resolution #1364 dated 6 December 2022 on “Some Issues of Formation of the List of Territories in which Military Operations are (were) Conducted or Temporarily Occupied by the Russian Federation” and listed in the Order No. 376 dated 28 February 2025 “On Approval of the List of Territories in which Military Operations are Conducted (Were Conducted) or Temporarily Occupied by the Russian Federation, as well as other relevant legislation from the Ukrainian Government, including, the Ministry of Reintegration of the Temporary Territories of Ukraine.
2. Owned shall mean the share of ownership is min. 51% OR the business is founded min. 51% by the respective vulnerable group. Led shall mean that the share of the vulnerable group in senior management is min. 51% or of board members is 51%.
For Women Owned Enterprises the following rules apply: MSMEs that are either (i) ≥51% owned by woman/women OR (ii) ≥20% owned by woman/women and has (i) ≥ 1 woman as CEO/COO/President/Vice President and (ii)≥ 30% of the board of directors composed of women, where a board exists; with an objective to support access to finance for women entrepreneurs.
3. Definition of IDPs shall be derived from the Law “on Ensuring the Rights and Freedoms of Internally Displaced Persons” where IDP is defined as a citizen of Ukraine, a foreigner or a stateless person who is legally present on the territory of Ukraine and has the right for the permanent residence in Ukraine, who was forced to leave or abandon his/her/their place of residence as a result of or in order to avoid the negative consequences of the armed conflict, temporary occupation, widespread violence, human rights violations and natural or man-made emergencies. A sub-borrower qualifies for the IDP and related SME category if it fulfils the following criteria at the time of application for sub-loan: it is a sole entrepreneur who is an IDP, or a legal entity majority (more than 50%) owned and/or led by IDP(s).
Financial standing
Sub-Borrower should demonstrate good financial standing, including a positive operating profit as of the latest available annual financial statement.
Transparency and KYC compliance
Sub-Borrower meets all relevant KYC checks conducted by the Bank in compliance with all applicable local, international and EU laws, regulations, and standards regarding anti-money laundering, combating the financing of terrorism, prevention of Prohibited Conduct and the Financial Action Task Force (FATF) standards and recommendations..
Payment of taxes
Sub-Borrower has been adhering to tax laws in accordance with the applicable framework with no indication of tax avoidance practices.
Credit history
Sub-Borrower is able to demonstrate a positive credit score and repayment history.
Active and operating business
The business has not ceased operations, filed for insolvency/liquidation or undergone legal or corporate/ business reorganization/ restructuring proceedings.
Location and registration
The business is registered within areas controlled by the Government of Ukraine and operates in accordance with the laws of Ukraine. Agriculture sector businesses should be recorded in the State Agricultural Registry.
Business ownership structure
At least 51% of the business owners (on beneficial basis) have Ukrainian citizenship. The beneficial ownership must be clearly established and traceable.
Absence of conflicts of interest
Sub-Borrower must not be a related party of the Bank (in accordance with Article 52 of the Law of Ukraine “On Banks and Banking Activity”), a family member of the Bank’s employees, or have any conflicts of interest with the Bank’s staff (in accordance with Articles 2 and 55 of the Law of Ukraine “On Banks and Banking Activity”).
One grant per group of companies
Bank may only provide one grant per one business/client group (in case of related businesses (under common ownership and/or control), only one entity of the client’s group can benefit).
Prohibition on military production
Businesses related to the production of weapons, military ammunition, dual-purpose products (by the Cabinet of Ministers of Ukraine, as published pursuant to the Law of Ukraine "On the State Control over International Transfers of Military and Dual-Use Goods" (as published in The Official Bulletin of the Verkhovna Rada (BVR), 2003, No. 23, Article 148 (Number 549-IV)) regardless of whether such dual-use goods are intended for international transfer or not) are ineligible for grant consideration.
The maximum amount of grant support may reach EUR 100,000 (in the hryvnia equivalent).
The amount is determined based on the characteristics of the loan and the business."
20% of the loan amount – if the funds are used for investment purposes.
10% of the loan amount – if the loan is intended for working capital replenishment.
An additional 5% may be granted to companies that:
operate in regions most affected by the military aggression of the Russian Federation;
are founded or led by women, young people (under 35), internally displaced persons, veterans, or persons with disabilities.
Payment of VAT and other taxes is not covered.
You may submit your feedback in any way that is convenient for you:
- during an in‑person visit to a Bank's branch or by contacting your Business Client Advisor;
- by email at mailto:ukr.cc@procredit-group.com;
- by phone via the Contact Centre at 0 800 50 09 90 or *0990 in the Rakuten Viber app;
- in writing, sent to the Bank’s registered address: ProCredit Bank JSC, 03115 Kyiv, 107‑A Beresteiskyi Ave.