Treasury Support Provided to Credit Guarantee Institutions

With Decision No. 2325 published in the Official Gazette dated 30.03.2020, the "Decision on Amending the Decision Regarding Treasury Support Provided to Credit Guarantee Institutions" entered into force.

The following changes are of particular importance among those made with this decision:

• The conditions required for businesses using credit guarantees, as stipulated in Article 22/A of Law No. 6183 on the Administration of Tax and Customs Procedures and Article 90, paragraph 6 of Law No. 5510 on Social Security and General Health Insurance, have been removed from the regulation.
• Additionally, the condition is that businesses must not have any debts to the tax authorities and the Social Security Institution., Until 31.12.2020 No applications will be accepted. This will allow businesses with outstanding tax and premium debts to apply for credit guarantees until December 31, 2020.
• The credit limits mentioned in clause (ğ) of paragraph 2 of article 4 of the decision have been amended. Accordingly, the limits have been increased from 25 million TL to 50 million TL for SMEs and from 200 million TL to 350 million TL for beneficiaries other than SMEs, until 31.12.2020.
• The limit specified in clause (b) of paragraph 2 of article 4 of the decision has been increased from 250 billion TL to 500 billion TL. This has doubled the total outstanding balance of the guarantees provided.

For your information.