The promissory note program makes it easier for farmers to purchase seeding equipment

20/09/2023 11:08

The portfolio of promissory notes validated by the First Ukrainian International Bank (PUIB) amounted to a record 850 million UAH, and the cumulative increase compared to the previous period was more than 30%. The lion's share of the portfolio consists of promissory notes given to agricultural producers for the purchase and payment of the basic means they need for the sowing campaign.

It was reported in the press service of the bank.

Using the promissory note settlement scheme, farmers are given the opportunity to finance spring purchases up to 100% of the cost of goods, and repay them in the fall. At the same time, it is even more profitable for the buyer, because the cost of the promissory note validation operation is 5-6 times cheaper than a standard bank loan.

"For many years, the service of guaranteeing such promissory notes has allowed both small farms and large agricultural holdings to easily settle on deferred payment terms with distributors of leading multinational companies, suppliers of seeds, fertilizers, and plant protection products," the message reads.

We will remind you that today FUIB cooperates with a large number of international producers of seeds and seed producers ("Syngenta", "BAYER", "SUMI AGRO", "BASF", "LIDEA" and others), which actively use bank-guaranteed promissory notes in calculations, which only invigorates interest of farmers in this tool.

The portfolio of promissory notes validated by the First Ukrainian International Bank (PUIB) amounted to a record 850 million UAH, and the cumulative increase compared to the previous period was more than 30%. The lion's share of the portfolio consists of promissory notes given to agricultural producers for the purchase and payment of the basic means they need for the sowing campaign.
It was reported in the press service of the bank.
Using the promissory note settlement scheme, farmers are given the opportunity to finance spring purchases up to 100% of the cost of goods, and repay them in the fall. At the same time, it is even more profitable for the buyer, because the cost of the promissory note validation operation is 5-6 times cheaper than a standard bank loan.
"For many years, the service of guaranteeing such promissory notes has allowed both small farms and large agricultural holdings to easily settle on deferred payment terms with distributors of leading multinational companies, suppliers of seeds, fertilizers, and plant protection products," the message reads.
We will remind you that today FUIB cooperates with a large number of international producers of seeds and seed producers ("Syngenta", "BAYER", "SUMI AGRO", "BASF", "LIDEA" and others), which actively use bank-guaranteed promissory notes in calculations, which only invigorates interest of farmers in this tool.
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