SUPPORT PACKAGE FOR OPERATING EXPENSES

Product Description

This package is aimed at providing SMEs and non-SMEs with financial support for all fixed expenses, including salaries and rental payments, thus ensuring they can healthily maintain their activities

Resource for Guarantee

Treasury Fund

Related Financial Institutions / Corporations

Akbank, Albaraka Türk Katılım Bankası, Denizbank, Emlak Katılım Bankası, Garanti Bankası, Halkbank, İş Bankası, Kuveyt Türk Katılım Bankası, QNB Finansbank, Şekerbank, Türkiye Finans Katılım Bankası, Vakıfbank, Vakıf Katılım Bankası, Yapı Kredi Bankası, Ziraat Bankası, Ziraat Katılım

Product Maturity

Maximum 24 months including a grace period of a maximum of 6 months

Guarantee Cap Rate and Guarantee Rates

 

Loan Products Available

  1. Business Credit Cards
    1. New Credit Card allocation
    2. Working capital loans that are to be disbursed to create a positive balance after making payments (including the following months) to a new Credit Card or existing Credit Cards that have no risk balance (Installment Loan, Spot Loan, Usury, etc.).
  2. Connected to a Debit/Bank Card;
    1. Overdraft Account (even if the beneficiary already has an account, a new overdraft account specific to this program must be opened)
    2. Installment Loan, Spot Loan, Usury, etc.
  3. Working Capital Loan / Usury (*)
    1. Installment Loan
    2. Spot Loan
    3. Revolving Loan
    4. Cashless Overdraft Account products
    5. Other approaches suitable for Participation Banking

 

* Participation Banks may disburse loans through appropriate methods for participation banking, regardless of Debit/Business Card. 

Fee and Commission Rates

  • The KGF shall collect, in return for each guarantee it gives, a one-time commission corresponding to 0.5% of the respective guarantee amount from the beneficiaries through the lenders. In the event of debt restructuring, a commission amounting to 0.5% of the balance amount of the guarantee shall be collected in advance from the beneficiaries through creditors.
  • In retun for each loan disbursed, creditors may collect a commission amounting to a maximum of 1% of the loan amount from the beneficiaries.

Special Conditions

  • Beneficiaries are required to commit to not reducing the number of employees for a period of two years from the date of loan disbursement
  • Beneficiaries may receive, for use as operating expenses, a cash amount of not more than 10% of the working capital loan allocated to them.
  • Credit cards will be restricted for cash advances
  • Invoices related to loans to be used under this Package shall be checked through the Invoice Register System, except for: loans to be used for the payment of salaries, taxes, SSI premiums, rental fees, electronic product bills (ELUS), producer receipts, and invoices other than e-Invoice and e-Archive invoices; the cash portion of loans; loans to be made available through card payment systems; and loans disbursed to beneficiaries who have a certifying letter from the Defense Industries Agency (SSB) stating that the respective company is operating in the defense sector.
  • Invoices related totreasury-backed guarantees shall be checked through the “Invoice Register System” created for Treasury-backed guarantees based on the invoice register systems of the Financial Institutions Association and the Participation Banks Association of Türkiye.