Interest-free loan from KOSGEB for SMEs affected by the earthquake

SHAFAQNA TURKEY- The program covers about 30,000 small and medium-sized enterprises in 11 provinces in the earthquake zone and affected by the earthquake. According to their scale, enterprises in this situation will be provided with fast financing up to 1.5 million lira.

Thanks to the loan program, the loan amount will be 11 billion Turkish liras. KOSGEB will cover the entire financing cost of 3 billion Turkish Lira. In other words, businesses will benefit from the program at a zero interest rate.

Minister of Industry and Technology Mustafa Varank also visited the Antakya Organized Industrial Zone as part of his visit to Hatay.

Minister Varank, who made a press statement after the program he attended with the industrialists, stated that they have activated the KOSGEB Emergency Support Loan Program, “Depending on the size of the business and damage, we provide interest-free loan support up to 1.5 million lira. We have taken the necessary steps to partially or fully write off the receivables of KOSGEB in the disaster area.” said.

Quick access to finance

The KOSGEB Emergency Support Loan Program, which was initiated to enable SMEs to start their business again, will be able to benefit from SMEs that manufacture, supply production-based parts, and perform production- and enterprise-related repairs. engages in architecture.

50 percent increase if damage is heavy

workplace from the emergency assistance program; Affected SMEs located in Small Industrial Zones (SIZs), Organized Industrial Zones (OIZs) or other job clusters will be able to benefit. In this situation, micro-enterprises will be able to use a loan of up to 250, small enterprises up to 500, and medium-sized enterprises up to 1 million lira. These limits will be increased by 50 percent in establishments with severe or higher damage. If medium-sized businesses are hit hard, the total credit limit will increase to 1.5 million liras.

zero percent

Businesses that receive an emergency support loan, which was initiated to normalize economic and social life in the region, will not repay the loan for the first 12 months. Over the next 24 months, payments will be made in installments over 3 months. The program will be implemented with a zero interest rate, all interest will be covered by KOSGEB.

KOSGEB will cover the cost of financing

KOSGEB aims to take advantage of this program for 30,000 small and medium-sized enterprises and create a loan volume of 11 billion lira. In this case, the value of the interest or profit share to be used by the enterprises will reach 3 billion lire. KOSGEB will cover all financing costs.

KGF will be active

The Credit Guarantee Fund (KGF) will operate for enterprises that do not have enough collateral. Businesses whose status is documented by official bodies such as the Governor’s Office and the District Governor’s Office will be able to use the Emergency Support Credit.