28 Apr 2021

1 min

Impact Investing

Oschadbank and Western NIS Enterprise Fund Proceed With Social Entrepreneurship Program

Kyiv region-based company Smachni Spravy received a second loan under the “Social Entrepreneurship” joint program of Western NIS Enterprise Fund and Oschadbank at 5% per annum rate. The company was established by the NGO “Ukrainian Donbas” and two internally displaced persons. Part of the products are manufactured under the MAKHAN brand; the company holds three patents for its own products and focuses on production and sale of meat products, made under a unique technology.

The first loan allowed the company to move its business to Vasylkiv district and keep on producing sausages and dry-cured meat. The attracted funds were used to purchase primary goods and increase product load, allowing the company to enter the national supermarket chains, such as Novus, Good Wine and others. This raised the company’s economic indicators afterwards. Moreover, 3 new jobs were created for the internally displaced persons.

The new loan will help overcome the effects of the pandemic and further expand production capacity. Having rough times during the covid-19 crisis, the company not only saves the staff, but also continues to create new jobs, being backed by “Social Entrepreneurship” program.

“Smachni Spravy’ shows how successfully and effectively socially oriented small business can develop with the support of Western NIS Enterprise Fund and Oschadbank. The second loan will enable the company to bring the business to a new level, as well as to create jobs for the internally displaced persons,” said Olha Baitsar, Member of the Oschadbank Management Board, in charge of micro, small and medium business.

“The WNISEF Impact Investment Program always prioritizes social enterprises, founded by the internally displaced persons or that favor this disadvantaged group, realizing their urgent need. Not only did ‘Smachni Spravy’ move their business to Kyiv region, but also helped employees to get used to a new place, providing them with all the necessary facilities,” said Vasyl Nazaruk, WNISEF Impact Investing Program Manager.

Social Entrepreneurship program allows small businesses and sole entrepreneurs that ensure the implementation of social projects and initiatives or solve some social problems of the disadvantaged groups as a part of its activities, to receive a national currency loan at economically attractive rates 5% to 10% per annum with less strict requirements for loan security.

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