MFO entice Ukrainians to take loans in a new way: now it doesn't depend on interest rates

According to hvylya.net: Ukrainians are increasingly turning to microfinance organizations (MFOs) for loans. In the first quarter of this year alone, more than 2.17 million loans have been issued for a total of more than 24.28 billion hryvnias. This is 8% more than last year. However, the number of loans is not the only important thing, but also their terms: currently, more than 60% of loans are issued for a period of 3 months or more, which indicates the stability of consumer activity among Ukrainians.

Despite positive dynamics, the microcrediting market continues to face challenges. With increasing competition and a limited influx of new clients, MFOs are looking for new strategies and solutions. It is also worth noting that some concessional lending programs, particularly the 'Affordable Loans' program, are gaining more popularity among Ukrainians.