Ukrainians launch a project to microfinance veterans’ businesses

During the war, veterans and their families, who were engaged in business activities until February 24, need special attention and specialized support programs. In 2021 there were more than 1 million war veterans in Ukraine, persons who had special merit before the Motherland, victims of the Revolution of Dignity and persons covered by the Law of Ukraine "On the Status of War Veterans and Guarantees of Their Social Protection". According to research conducted before the war, one-third of veterans were engaged or planned to engage in entrepreneurial activities. But the war changed these plans, as almost all veterans are reservists, so they were the first to be mobilized to defend Ukraine.

Veterans' families who have been forced to evacuate, now need support in adapting to new surroundings. An attempt to resume business after the evacuation is one way to adapt veterans and their families to the new situation. 

Veterans' families who have remained at home but continue to engage in entrepreneurial or independent care also need support. A project goal is to provide favorable conditions to stimulate the creation and resumption of business activities of veterans and their families a internally displaced persons at their new location.

WHY IT MATTERS?

The work of individual entrepreneurs and the self-employed is a necessary component of the economy, which is currently going through difficult times. Veterans' business can be a platform for providing jobs for people who have lost their job in case of evacuation or destruction of enterprises. Also, it is one of the tools to combat unemployment which was caused by war.

PROJECT IMPLEMENTATION MECHANISMS

Through the collection and analysis of applications in the CRM system, the UVF will reimburse the costs associated with the purchase of items and goods for entrepre eurial or independent professional activities, if correct documentation is available.

STEPS TO APPLY FOR ONE-TIME FINANCIAL AID

• Collect the necessary documents according to the list developed by the Foundation;
• Send your application with documents through the application form;
• Receive a response from the UVF (based on the results of the inspection of the package of documents);
• In case of providing a complete package of documents, you will receive a one-time financial aid.

With the help of tools, the UVF will be able to provide financial support to veterans and their families for least 500 people from the funds provided by the State budget for the UVF program activities.

The Foundation has formed a team that is already working on the launch of this project and will implement it until the end of martial law. In the long-term vision, the project envisages the expansion of the functionality of the CRM-system and its further adaptation after the end of martial law, for the activities of the UVF provided by the Regulations on the Ukrainian Veterans Fund.