New Breath Loan opportunity of 50 billion lira for SMEs

Applications for new slices of the TOBB Breath Loan, which was implemented in cooperation with TOBB, KGF and banks in order to facilitate SMEs' access to finance, will be made on Tuesday, November 3.

All chamber and commodity exchange member businesses affiliated with TOBB can apply for the loan. Businesses will be able to make their applications through Denizbank, QNB Bank, Ziraat Bank, Garanti Bank, Halkbank, Vakıfbank, Yapı ve Kredi Bankası and Ziraat Katılım Bankası.

The loan provided within the scope of the Equity Guarantee Program aims to meet the working capital needs of SMEs under favorable conditions.

Within the scope of the Breath Loan, which was put into use on June 8 and 45 billion lira of loans have been disbursed to date, an additional 50 billion lira of financing will be provided with the new tranche.

With the new tranche, the credit limit per company was increased to 5 million lira. Businesses that used loans in previous tranches will also be able to use additional loans to complete the total loan amount to 5 million liras. A company can benefit from a maximum loan of 5 million lira.

Loans will have a maximum maturity of 48 months, including a 6-month grace period for principal payments. Annual interest will be applied to the loan at 36 percent for up to 24 months, and 34 percent annually for maturities exceeding 24 months.

TOBB President Rifat Hisarcıklıoğlu, whose views were included in the statement, stated that they delivered 45 billion lira to SMEs in 5 months with the Breath Credit they launched in June and said:

"The demand we saw clearly showed how much the real sector needs the Breath Credit. Now we are opening a new tranche of 50 billion liras and increasing the limit per company to 5 million liras. As long as our SMEs continue to produce, provide employment and export, we will continue to be with them. We would like to thank the Minister of Treasury and Finance Mehmet Şimşek, the President of the Central Bank Fatih Karahan, the Chairman of the KGF Board of Directors Erdoğan Özegen and all those who participated in the implementation of this program. "I thank our banks."

Source: TRT Haber Ekonomi RSS (Open Press / Translated Full Text)