Ukrainian small and medium-sized businesses have received more than fifty seven thousand loans under state guarantee instruments since the program began at the end of 2020. Total financial support has now exceeded two hundred billion hryvnias.
The instrument became especially important during the full-scale war, when companies needed working capital, equipment financing and liquidity support while facing disrupted markets and higher risk. Since the start of the invasion, businesses have signed more than fifty one thousand loan agreements for over one hundred ninety billion hryvnias.
Who uses the program
As of the beginning of May 2026, thirty creditor banks had active guarantee-backed lending portfolios. More than twenty thousand contracts remained active, with the principal debt partly covered by state guarantees.
The largest volumes are concentrated in Kyiv city, Dnipropetrovsk, Kharkiv, Lviv, Kyiv region and Odesa. This reflects both business density and the need for credit in regions with large industrial, logistics and service markets.
Where the money goes
Processing industry leads by sector, followed by agriculture, trade, vehicle repair, transport, warehousing, construction, energy and healthcare. For many companies, state guarantees do not remove credit discipline, but they reduce the risk barrier that can prevent banks from lending during wartime.
The program also shows how financial infrastructure adapts to a longer recovery cycle. Ukrainian businesses need capital not only to survive shocks, but also to replace equipment, restore supply chains, keep staff employed and prepare for growth when demand returns.
