TAScombank has signed the first UAH 15.6 million factoring financing agreement under the state program “Affordable Factoring” with Nika Plast, a producer of plastic films, the financial institution’s press service said on Wednesday.
“This will allow our partner to obtain additional working capital to increase production and sales,” the release said.
The term of the agreement and the interest rate were not specified.
According to the press service, Nika Plast is a manufacturer of polyethylene films, bags, sacks and other products made of high and low pressure polyethylene, which have a wide range of applications.
According to YouControl, the company was registered in 1997, and its ultimate and sole beneficiary is Oleksandr Nikolaienko. It is noted that the main consumers of the products are: the construction sector, agro-industrial, industrial and food production, retail chains, as well as small businesses.
The “Affordable Factoring” program is aimed primarily at Ukrainian producers of goods – micro, small and medium-sized enterprises – and was created to provide them with the opportunity to quickly replenish working capital.
The maximum limit of financing within its framework is UAH 150 million, the interest rate is compensated above the level of 13% per annum, and the maximum term of use is 360 days.
In addition to TAScombank, the program includes such authorized factors as: Credit Agricole Bank, MTB Bank, Cominbank, Globus Bank and OTP Bank.
