Artbudservice > News > Mission “5-7-9” – how to become a participant of the state program in a month. 5 tips for pessimists

Mission “5-7-9” – how to become a participant of the state program in a month. 5 tips for pessimists

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The government’s 5-7-9 beneficial loan program is like a dinosaur. There is no person in the business environment who has not heard of it. But the fingers of one hand will be enough to list really successful cases.

Sometimes it may seem that it is almost impossible to become a member of the program. Some happy loan holders “under 0%” talk about their experience as the worst thing that could happen to their business. This is, of course, not about the rate, but about the procedural part, which for some entrepreneurs stretched for 4-5 months.

Oleksandr Radchenko, General Director of ArtBudService: “It has happened recently that our company became part of the weekly statistics of the Ministry of Finance, in which the government talks about billions of issued loans. I have to admit, it wasn’t as scary, painful and long as people say. “

Who we are and why do we need money

ArtBudService is a company that specializes in the construction of industrial and commercial facilities as a general contractor.

Nova Poshta, Nestle, UNICEF and other reputable companies are our clients

It’s not good to brag, but you need to talk about it to understand the importance of additional funding. Needless to say, winning tenders from such significant and demanding customers is not an easy task. Words and assurances alone are not enough. Crystal reputation, strict adherence to deadlines and financial arrangements are requered.

To achieve this, we often start projects before receiving a prepayment from the customer. And here without own working capital – in any way.


Until recently, we used a credit line from a Ukrainian bank. And all would be ok, but 20% per annum – an unbearably painful rate. Such were the average market conditions.


Of course, we heard about the 5-7-9 program, but until October 2020 we could not apply for it because we did not pass the annual revenue limit. As soon as the Cabinet of Ministers raised the bar to 10 million euros, we decided to take a risk. The rate of 3% on a loan to replenish working capital is worth the difficulties that are gossiped about in the market, we thought. And (spoiler) were rewarded.

5 tips for applicants

1. Choose the right bank

The first attempts to get a loan under the government program caused us disappointment. Several participating banks, which we turned to for help, made it quite straightforward to make it too difficult. And they offered us their classic lending programs to cover “cash gaps”.

I am far from thinking that this is the strategy of financial institutions. Most likely, the problem is in the qualification of managers regarding the essence and details of participation in “5-7-9”. And it seems to me that often bankers themselves are unsure that this program can bring the deal to an end.

2. Apply to several banks at once

For ourselves, we concluded that if the bank from the threshold begins to refuse to participate in the program, it is better not to contact him. The best option is to apply to several banks at once. Fortunately, this is a rather limited package of documents. The bank that responds first and will not be intimidated by non-existent difficulties, so you should go to the project.

In our case, this was Creditvest Bank. Surprisingly, a bank with 100% Turkish capital understood the nuances of the purely Ukrainian 5-7-9 program better than other Ukrainian financial institutions.

We were not only immediately got confirmation about the opportunity to participate in the program, but also suggested the best option. In the process of preparing documents, the bank manager was constantly in touch with our team, helped with appraisers and insurers. The project was completed in a month. Exactly the same amount we would spend on a classic bank loan.

3. Form a team, appoint a manager

Obtaining bank financing is the same business project as construction, concluding a new agreement, starting production. And there is a need to haved a team and a manager.

Identify one responsible manager who will consolidate the work of lawyers, financiers and accountants as an administrator and a “single window” for the bank. With constant feedback from the bank and well-established processes within the company, the time to obtain a loan will be sharply reduced.

4. “Parallel” processes

Many tasks within the project of obtaining funding can be conducted in parallel. For example, when receiving a preliminary decision from the bank, approval of collateral, immediately specify the list of accredited appraisers and insurers.

While accountants and financiers prepare certificates, statements and other documents, you will be able to find the right contractors, sign agreements and possibly even get an opinion. This will save a lot of time.

It should be understood that obtaining a loan is a capacious process that requires the participation of many people. And not just in your team. It doesn’t matter if it’s 5-7-9 or a regular bank loan. The procedure is identical everywhere.

5. Rejoice in the result

One month has passed from the moment of applying to Creditvest until the opening of the credit line. That’s a small term. Not more than in the case of a regular loan.

Moreover, having experience in obtaining bank loans, I can say for sure – it was not more difficult either. In the case of “5-7-9”, a couple of questionnaires were added to the usual package of documents required by creditors – trifles on the general background.

And it definitely costs 3% per annum under the credit line for 2 years.

P. S. Nice bonus. Creditvest Bank, as it turned out, is also a participant in the Kyiv municipal business support program. In December 2020, under this program, we will be reimbursed 99% of the amount paid as interest on the loan. It turns out that Kyiv City State Administration (KCSA) program is perfectly combined with the state “5-7-9”. Pay attention to this nuance and ask your credit manager