Ukrainian entrepreneurs attract USD 58mln via P2P CUB platform of Privatbank

Credits to Ukrainian Business (CUB) platform has been launched half a year ago. Ukrainian business by attracting UAH 1.5bn (USD 58mln) created some 71 000 job places.
The interest rates are high at yearly 23-24%, and there are enough funds for loans, told Mr. Aleksader Dubilet the CEO of Privatbank. Regional authorities may compensate the high rates lowering them to 8-9%, believes the CEO. He is sure that at UAH 20bn of loans via P2P CUB, around a million of job places would be created.
To remind, Privatbank became a servicing party in a joint project with MasterCard for SME facilities in a peer-to-peer financing project. With a help of the platform, a creditor may provide financing for borrowers instead of depositing it in a bank. It enables to secure a high yielding margins without the intermediaries' fees.