KMZ INDUSTRIES, AGROPROSPERIS BANK LAUNCH SILO EQUIPMENT PURCHASE FINANCING PROGRAM FOR SMALL FARMERS

Business news from the Ukrainian League of Industrialists and Entrepreneurs

KMZ INDUSTRIES, AGROPROSPERIS BANK LAUNCH SILO EQUIPMENT PURCHASE FINANCING PROGRAM FOR SMALL FARMERS

10 Nov , 2017  

KYIV. Nov 10 (Interfax-Ukraine) – KMZ Industries and Agroprosperis Bank (Kyiv) have signed a partnership agreement on financing of purchases of silo equipment for small and medium-sized agricultural enterprises at preferential credit rates.
According to a posting on the website of the bank, the partnership program simplifies the acquisition of equipment for processing and storing grain crops from KMZ Industries.
Under the terms of the partnership program, the credits are issued in the amount of up to $400,000 or in the hryvnia equivalent for the period of up to 40 months at preferential rate starting from 6.55%.
The bank is to take the final decision to issue the credit in three days.
Farmers with cultivated land from 100 ha who have experience in agricultural production for over three farming cycles can participate in the program.
Agroprosperis Bank Board Chairman Serhiy Schepansky said that the program is as much as possible adapted to the needs of farmers.
“The partnership program offers farmers not only a convenient loan repayment schedule in accordance with the season, but also the possibility not to pay the down payment provided that additional collateral or a crop receipt is provided,” he said.
As reported, early February 2016 PJSC Astra Bank was renamed PJSC Agroprosperis Bank.
In July 2015 Agro Holding (Ukraine) Limited, a subsidiary of an investment fund managed by NCH Capital (the United States), bought insolvent Astra Bank for UAH 92.1 million.
According to the NBU, the owners of the bank are beneficiaries of NCH Capital (the United States) George Rohr and Morris Tabacinic, who indirectly owned 100% of the financial institution.
KMZ Industries (Poltava region) produces agricultural machinery and silos.
Dragon Capital Investments Limited (Cyprus) held 93.2386% of shares in the company as of Q4 2016.