Türkiye Finans, having one of the banks with largest SMSE portfolios in Turkey, started accepting loan applications under the “New Loan Support Program” put into practice by KOSGEB. After extending about 3.5 Billion TL in loans to SMSE’s in the first 10 months of 2009, Türkiye Finans now aims to continue to increase its support to small and medium-size enterprises thanks to this package.
The Loan Support Program will extend a total loan of TL 2.5 billion to about 100,000 enterprises registered in the KOSGEB database. SMSEs may use such loan facility with a repayment term of 15 months, the first 3 months being the grace period. Upper limit for the loan facility to be available to each enterprise was determined at 25,000 TL. If the enterprise owner is a woman entrepreneur, upper limit of the loan will be 30,000 TL.
25% of the profit share for the loan used from Türkiye Finans will be borne by borrowing enterprises by monthly installments and the remaining 75 percent thereof by KOSGEB.
Under the package, Türkiye Finans will consider applications involving for the purchase of goods or a service in line with the principles of noninterest banking. The loan facility will be available to all SMSE’s in addition to existing about 20,000 SMSE customers of Türkiye Finans.
If they wish to develop their business by benefiting by the Loan Support Program, enterprises registered in the KOSGEB database may apply directly to Türkiye Finans branches