The Union of Chambers and Commodity Exchanges of Turkey (TOBB) will open applications for a new tranche of the TOBB Nefes Kredisi on Tuesday 3 November. The loan is run with the Credit Guarantee Fund (KGF) and participating banks, and is aimed at small and medium-sized enterprises.
The new tranche adds 50 billion lira in financing. The maximum credit per firm rises to 5 million lira. Since the facility opened on 8 June, a total of 45 billion lira has been extended.
Terms of the new tranche
Loans with a maturity of up to 24 months carry an annual interest rate of 36 percent. Loans with a maturity over 24 months carry 34 percent. The maximum maturity is 48 months, including a principal grace period of 6 months.
Eligible firms are members of TOBB-affiliated chambers and exchanges. Firms that borrowed in earlier tranches may take additional credit to bring their total to 5 million lira.
Demand from the real sector
TOBB President Rifat Hisarcıklıoğlu said the response showed how much the real sector needs the facility. “The demand clearly showed how much the real sector needs the Nefes Kredisi. We are now opening a new 50 billion lira tranche and raising the limit per firm to 5 million lira.”
The loans are offered under the Özkaynak Kefalet Programme and are intended to meet the working capital needs of SMEs.
Source: TOBB
