Micro Business Loan Package

Within the scope of the Micro-Enterprise Support Package created by the Turkish Ministry of Treasury and Finance, SMEs with a turnover not exceeding 3 million TL will be able to access loans of up to 100,000 TL through Halkbank, Vakıfbank, and Ziraat Bank. The Turkish Ministry of Treasury and Finance has allocated a guarantee limit to the Credit Guarantee Fund Inc. (KGF) for the Micro-Enterprise Support Package under the Treasury-backed guarantee transactions. The first phase of the package is a grace period until November 1, 2021, during which time loans will be disbursed by banks to beneficiaries within the limits allocated under the program. After this date, no loans will be disbursed even if a limit remains available. A fixed interest rate will be applied to the loans offered under this package.

Announcement (Halkbank): https://www.halkbank.com.tr/22980-mikro_isletme_destek_paketi

Announcement (Credit Guarantee Fund): https://www.kgf.com.tr/index.php/tr/urunlerimiz/hazine-destekli-kefaletler/mikro-isletmeler-destek-paketi

Eligible beneficiaries and credit limits: Small and medium-sized enterprises (SMEs) established in accordance with the laws of the Republic of Türkiye, operating domestically or in Free Zones in Türkiye, and having a turnover not exceeding 3 million TL.

Types of loans available under this package:

• Loans to be disbursed in installments or on a revolving basis.
• Credit Deposit Account with No Cash Withdrawals

Non-credit products included in the package (Halkbank):

• Cash Business Loan
• Monthly Equal Installment Loan (AET)
• Revolving Credit
• Turkish Lira Guarantee Letter for Goods Purchase
• Paraf Business Credit Card
• Guaranteed Check
• Corporate Credit Deposit Account (KMH)
• Direct Debit System (DBS)

Loan terms:

• The banks that will provide the loans are:
  • Halkbank
  • Ziraat Bank
  • Vakıfbank
• Maturity period: A total of 48 months, including a maximum 12-month grace period, not exceeding November 1, 2021.
  • The first phase is the grace period until November 1, 2021. This period is also when the limits allocated to beneficiaries by banks under the Program will be disbursed through the credit products specified below. After this date, no disbursements will be made even if limits are available.
  • The second phase is the payment period. Any outstanding risk balance resulting from disbursements (and repayments, if any) up to November 1, 2021, will be subject to a 36-month payment plan starting from that date.
• Fees and Commission:
  • The bank may only charge beneficiaries a commission of up to %0.5% of the loan amount for each loan disbursement.
  • KGF collects a one-time, upfront commission from beneficiaries through banks for each use of the guarantee, at a rate of %0.5% of the guarantee amount. In case of restructuring, a commission of %0.5% of the guarantee balance is collected upfront from beneficiaries through banks.
  • Banks may not charge any fees, charges, or commissions other than those specified in this section, for loans disbursed under the Treasury-backed KGF (Credit Guarantee Fund) guarantee, including expenses incurred for third-party transactions (appraisal, insurance, etc.).
• The condition that the beneficiary and/or companies in which the beneficiary and/or its partners hold 25% or more of the shares, individually or collectively, must not have a bankruptcy decision, dissolution, postponement of bankruptcy, interim bankruptcy measure, or composition with creditors decision at the time of the loan application is required. If this condition cannot be determined from the Bank's records, it will be completed with a written statement from the beneficiary.
• According to the beneficiary's application date to the Bank, the receivables must not be classified as non-performing loans in the latest Credit Limit, Credit Risk, and Receivables to be Liquidated Report obtained from the Risk Center of the Turkish Banks Association, in accordance with the "Regulation on the Determination of the Qualities of Loans and Other Receivables by Banks and the Procedures and Principles Regarding the Provisions to be Allocated for Them", and must not be receivables that are tracked in the "Receivables to be Liquidated and Receivables of a Loss Nature" account in accordance with the provisions of the Regulation on Accounting Practices and Financial Statements of Financial Leasing, Factoring and Financing Companies published in the Official Gazette dated 24/12/2013 and numbered 28861.
• Yararlanıcıya tahsis edilen kefalet tutarının azami %10’ununa karşılık gelen kredi tutarı işletme harcamalarında kullanılmak üzere nakit olarak verilebilecektir. Bu kapsamdaki kullandırımlar için belge ibrazı zorunluluğu bulunmamaktadır; ancak Bankalar tarafından yararlanıcının kredibilitesinin yüksek olduğunun ve işletmenin nakit kullanım ihtiyacının makul olduğunun değerlendirilmesi gerekmektedir.