AUB partners news

NovaPay launches a business lending product

The new product was created to develop and support small and medium-sized businesses, namely for individual entrepreneurs who are residents of Ukraine and customers of Nova Poshta and NovaPay, the company's press service said.

"NovaPay's lending program for individual entrepreneurs cooperating with the group of companies is divided into two types of loans: short-term and long-term," says Igor Prikhodko, NovaPay's CFO. "A short-term loan is up to 3 months - from UAH 50,000 to 500,000, with a base interest rate of 30% per annum. The loan is repaid at the end of the loan term. Long-term loan - up to 2 years - in the amount of UAH 100,000 to UAH 1,000,000, the base interest rate is 30% per annum. The loan is repaid monthly in annuity payments."

To apply for a loan, an entrepreneur must be a resident of Ukraine, a customer of Nova Poshta and NovaPay, have a stable income and an open payment account with NovaPay, and

  • prepare the required package of documents;
  • obtain approval of the loan amount and type;
  • sign a loan agreement.

At the end of 2022, NovaPay launched its first loan product for private clients - Parcel on Credit. Over the year and a half of its operation, the company has issued more than 132 thousand loans worth about UAH 850 million.

NovaPay is an international financial service that is part of the NOVA group of companies (Nova Poshta) and has been providing online and offline payment services in more than 3,500 Nova Poshta offices for 12 years. NovaPay was the first non-bank financial institution in Ukraine to receive an extended license from the NBU, which allowed it to open accounts and issue cards. The company was the first among non-bank financial institutions to present a mobile application in December 2023.

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The mission of the Association of Ukrainian Banks is to support the development of the national banking system. The AUB cooperates with the Verkhovna Rada of Ukraine on improving the legislation governing banking activities, and interacts with the National Bank of Ukraine on regulatory support for the functioning of banks and non-bank financial institutions. The CBA takes care of the professional development of bank employees, expands international relations with associations and banking institutions of other countries.

 

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