Amid Mass Attacks, Loans Are Becoming a “Financial Safety Net” for Businesses

As missile and drone attacks intensify, Ukrainian small and medium-sized businesses are increasingly taking out loans not only to expand production, but also to maintain their ability to operate.

This was reported by Oksana Shulha, Director of the Small and Medium-Sized Business Department at GLOBUS BANK.

According to her, the war is gradually changing borrowers’ motivations. In relatively stable conditions, financing is primarily used to increase production, purchase additional equipment or scale up a business. Today, however, entrepreneurs increasingly need funds to overcome the consequences of external shocks.

Following large-scale attacks, businesses may face damage to their premises and equipment, power supply disruptions, logistics problems, forced downtime or the need to urgently find new suppliers.

In such circumstances, loan funds may be used to purchase generators, energy storage systems, backup equipment and vehicles, restore fixed assets or replenish working capital.

Financing energy resilience has become a separate area of bank lending. As of September 2026, banks had provided businesses with UAH 58.5 billion in loans for energy projects under a joint memorandum.

This includes not only financing new power generation capacity, but also electricity storage systems, the modernisation of heating equipment and other solutions that enable businesses to become less dependent on disruptions to the centralised energy supply.

“Amid constant attacks, loans are increasingly serving another purpose: they are becoming a financial safety net. Businesses may borrow not only to increase production, but also simply to keep operating. For some, this means a generator or solar power plant; for others, a new vehicle to replace a damaged one, backup equipment or working capital to get through a forced shutdown,” Oksana Shulha explained.