KGF IS GROWING MORE SMES WILL BE
ABLE TO REACH THE LOANS THAT THEY NEED
Isbank have been signed a protocol in August 10th
2007. Thus, SMEs, will reach the loans of Isbank
easily by means of KGF guarantees.
KGF and Isbank have been signed a protocol in August
10th 2007. Thus, SMEs, will reach the loans of
Isbank easily by means of KGF guarantees.
As iti is known, main objective of KGF is supporting
the SMEs by providing a guarantee. With this
protocol, SMEs that with inadequate collateral will
start to benefit from guarantees of KGF when they us
a credit from Isbank and Is Leasing. Also through
the widespread branch network of Isbank in all over
the Turkey, more SMEs will reach the desired loan
With these protocols, partner banks, leasing
companies and financial institutions of KGF have
been raised 20.
KGF IS ON SMES SIDE AT ANADOLU APPROACH
KGF has signed the Restructuring the Debts Framework
As it is known, the Act Nr. 5569 on Restructuring of
Debts to Financial Sector, of Small and Medium-size
Enterprises which is also known as Anadolu
Approach has entered into force subsequent its
publication in the Official Gazette dated December
27, 2006 Nr. 26392. KGF has signed the Restructuring
the Debts Framework Agreement which has been
prepared in terms of the Act Nr. 5569. SMEs, which
annual turnover is up to TRY 25 million or which
employ up to 250 people, will bee scope of this law.
By signing this Framework Agreement by KGF, SMEs,
with the inadequate collaterals to restructure their
debts, will be stronger by having support of KGF
while signing a protocol with related banks. For
more details about this Act Nr.5569 and mentioned
Framework Agreement, please visit the web site of
the Banks Association of Turkey, at
KGF WILL GUARANTEE THE SMES CREDIT DEMANDS FROM
More SMEs are reaching guarantees of KGF by signing
new protocols consecutively. Latest protocol has
been signed with Finans Leasing.
KGF, whose main objective is supporting the Small
and Medium Size Enterprises (SMEs) by providing a
guarantee for their financing and consequently
increasing the credit usage in general, and Finans
Leasing have signed a protocol on February 15, 2007.
From mentioned date on, SMEs that with inadequate
collateral, have started to benefit from guarantees
of KGF when they us a credit from Finans Leasing.
Thus, with this Protocol, partner leasing companies
have been raised 4 and total banks and financial
institutions of KGF have been raised 17.
FROM NOW ON, KGF AND AKLEASE WİLL BE TOGETHER IN
FINANCING OF THE SMES PROJECTS
KGF is continuing growing at the double. New
Protocol has been signed with Aklease.
By the Protocol, which was signed at February 2nd,
2007, between KGF and Aklease, SMEs will be able to
use the guarantee of KGF as they use a credit from
Aklease. With this Protocol, partner banks and
financial institutions of KGF have been raised 16.
This is not only means more SMEs will benefit from
services of KGF but also more opportunities will be
created for SMEs.
KGF AND TURKIYE FINANS ARE WORKING TOGETHER
By signing the Protocol between KGF and Turkiye
Finans KGF on 31st January 2007, matter of
insufficient collateral will be solved for SMEs.
SMEs will access the loans of Turkiye Finans by
means of KGF even they do not have enough
collateral. Thus, more opportunities will be created
for SMEs to benefit from loans. Numbers of KGFs
partner banks and financial institutions raised 15
with Turkiye Finans.
KGF IS IN KOBIF (SMEs INFO & TRAINING FAIR)
SMEs Info & Training Fair has been organized by
TOBB (The Union Chambers and Commodity Exchanges of
Turkey) during 2007 in 20 cities of Turkey to get
SMEs and solutions partners together.
Project partners of this Fair are TR Ministry of
Industry and Trade, KOSGEB (Small and Medium
Industry Development Organization), TÜBİTAK (the
Scientific and Technological Research Council of
Turkey), TPE (Turkish Patent Institute) and Halkbank
(State Bank for SMEs). Aims of this Fair are to
facilitate to new entrepreneurs, open new prospects
to existing entrepreneurs and to get all partners
together related to SMEs. Thus, it has been planned
to strengthen the SMEs by supplying the all
information about production, foreign trade,
trademarking, certification, financing, marketing,
related fairs, internal and foreign investment
facilities etc. For this purpose Kredi Garanti Fonu
is participating these fairs which will be held on
26-27 January 2006 at Atatürk Cultural Center in
Approximately 100 public and private sector
associations and establishments will participate the
fairs and give the all information about different
supports for SEMs development. Also by supporting
of chambers of commerce and industry, there will be
several seminars, panels and informal essays in 20
cities during 2007.
more information about these fairs, please visit
EURO 10 MILLION ADDITIONAL CREDIT GUARANTEE SUPPORT
TO SMES FROM EUROPEAN UNION
EUROPEAN INVESTMENT FUND HAS INCREASED THE VOLUME OF
KGF GUARANTEES, WHICH ARE CountER-GUARANTEED BY EIF,
TO EURO 24 MILLION FROM EURO 14 MILLION.
EIF has extended the implementation of credit
guarantee in Turkey until the end of 2007 and
increased the volume to Euro 24 million. Through
this agreement, KGF guarantees are Counter-guaranteed
by European Investment Fund (EIF), up to 50 %. This
agreement, signed between KGF and EIF in 2004, is
under the European Communitys Multiannual Programme
for Enterprise and Entrepreneurship and, in
particular, for Small and Medium sized Enterprises (SME,s)
(2001-2006). Aim of this Programme is giving
opportunity to SMEs to increase their employment
volume and grow their business.
Demand of 3 years or longer term investment credits
of SMEs will be covered by this implementation. By
amending the protocol, number of workers has been
increased up to 250 employers.
KGF has been displaying its activities by providing
a guarantee for SMEs to access the bank loans if
they have not enough collateral since 1994.
Principle of KGF is sharing the risks. In this
context, KGF covers up to 80 % of the loan.
Guarantee limit is Euro 400.000 or equivalent of YTL.
Dominant shareholder of KGF Operating&Research
J.S.C. are TOBB (The Union Chambers and Commodity
Exchanges of Turkey) and KOSGEB (Small and Medium
Industry Development Organization). Other
shareholders are TESK (Confederation of Tradesmen &
Craftsmen), MEKSA (Foundation for the Promotion of
Vocational Training & Small Industry), TOSYÖV (Turkish
Foundations for Small & Medium Business), HALKBANK (State
Bank for SMEs).
Today, KGF has been cooperating with 14 banks and
financial institution and this number is increasing
every day by signing new protocols.
KGF - CREDIT GUARANTEE FUND
Operating & Research J.S.C.
COOPERATION WITH ZIRAAT BANKASI
From now on, loans of Ziraat Bank will be under
the guarantee of KGF.
By signing the Protocol between Ziraat Bank and KGF
on 2nd October 2006, matter of insufficient
collateral will be solved for SMEs. SMEs will
access the loans of Ziraat Bank by means of KGF even
they do not have enough collateral. Thus, more
opportunities will be created for SMEs to benefit
from loans. Signing this protocol with Ziraat Bank,
number of banks and financial institution, are KGF
cooperates with, raised 14.
KGF IS GROWING
Capital of KGF has been increased at General Assembly of KGF, which was held on
21st August 2006. In connection with this, the press
statement of Mr.Rifat Hisarciklioglu, who is the
president of TOBB - The Union Chambers and Commodity
Exchanges of Turkey, is below.
I would like to greet you on behalf of me and TOBB.
Financial sector and reel sector are like two parts
of an apple. Financial sector works as a vein to
feed the SMEs which are the basic instruments of
economy. Thus, when one of them is in a bad
condition, other one shouldnt be expected to be in
a good condition. After 2001 crisis, financial
sector has been restructured. During this period,
conversion ratio of deposit to credit reached 70%,
which was less than 30% before. However for four
years, even consumer credits have multiplied 13
times, commercial credit have multiplied only 3
times. In other words, there are some steps to be
taken to strengthen the relations between financial
and enterprise SECTORS.
In this context, KGF, which we are shareholder of
50%, supplies a much felt want. Volume of credit can
be provided by KGF is restricted with its capital.
So, capital of KGF has been increased.
Demands and importance of KGF will be increased
after implementation of Basel II critters.
Basel II critters require higher quality need of
collateral. On this acCount, increasing capital of
KGF will provide efficient, quality, common loan
service which is compatible with concept of modern
banking system in the near future.
By strengthening the structure of capital, credit
sources of KGF will be increased, thus more SMEs
will be accessed. Besides, operations are continuing
to find a finance, cash or non-cash, especially from
foreign finance foundations. In this context, in
accordance with the agreement signed between KGF and
European Investment Fund, KGF guarantees are Counter-guaranteed
by EIF up to 50%.
When applications of KGF become commonplace,
financial system will be deeper and new
opportunities will be provided for SMEs. Because
there has been a big increase in demand of KGF and
annual credit volume has been doubled by providing
loan for 488 SMES last for 2 years. So that, not
only capital of KGF but also human resource,
corporate infrastructure and technical capacity
should be strengthened.
Up to now KGF has guaranteed $170.000.000 for
approximately 1.900 project of 1.087 SMEs. Such
effective, key system should be supported by
Government. KGF should also benefit from the sources,
which are allocated to support the SMEs, of
And I would like to congratulate the directors of
KGF on their successful operations to settle the
credit guarantee system. I also would like to thank
to Mr.Ali Coşkun, Minister of Industry and Commerce,
for his supports to Turkish private sector and
attaching importance to KGF. With kind regards.
13th September 2006, Ankara