The 5-7-9% lending program has extended $120 million in loans to 1,755 small businesses

The 5-7-9% lending program has extended $120 million in loans to 1,755 small businesses, Yulia Kovaliv, Deputy Presidential Chief of Staff, said Monday. With the $68,400 the average loan size, 62% have gone to farms and 14% to the processing industry. Eighteen banks are now participating. The three possible rates – 5%, 7% or 9% – depends on the size of the business, number of employee and length of the loan.