Product Description
The aim is to provide financing to private sector enterprises, registered under Law No. 5510 and with less than 50 insured employees reported to the Social Security Institution for March 2021 for the withholding tax and premium service statements, to be used for their contractual or invoice-related operating expenses.
Source for Guarantee
Treasury Fund
Related Financial Institutions / Corporations
Ziraat Bankası, Vakıfbank, Halk Bankası, Ziraat Katılım Bankası, Vakıf Katılım Bankası
Product Maturity
Maximum 26 months (including the grace period) with a maximum of 8 months of no principal payment and a maximum interest-free period of 14 months
Guarantee Cap Rate and Guarantee Rates
Loan Products Available
Cash Loan with Instalments/ Murabaha Products
Loan Interest Rates for Beneficiaries
Cash Loan with Instalments/ Murabaha Products
Fee and Commission
- In exchange for the guarantees used, KGF collects, through lenders, 0.5% of the guarantee amount as a one-time upfront commission for each guarantee disbursement. In the case of configuration, 0.5% of the amount of the guarantee balance will be collected from beneficiaries as upfront commission through lenders.
- In exchange for the loan, the lender may collect from beneficiaries a maximum of 0.75% of the loan amount as upfront commission for each loan disbursement.
Special Conditions
- Maximum 26 months (including the grace period)
- Maximum first 8 months of no principal payment and maximum first 14 months interest-free period
- This guarantee can be used by private sector businesses, registered under Law No. 5510 and with less than 50 insured employees reported to the Social Security Institution for March 2021 for the withholding tax and premium service statements, for their contractual or invoice-related operating expenses.
- The beneficiaries must commit the following: that the additional employment is added to the average number of insured in the monthly premium and service documents or the number of insured in the monthly premium and service documents declared by the workplace employing them in the calendar year before their year of employment between 1/7/2021 and 30/06/2022 as per clause (a) of paragraph 1 of Article 4 of Law No. 5510; that they return the employee who benefited from cash wage support for at least 20 days in March 2021 to normal work and that they pay the premiums of this employee within the legal period for 12 months. If the employees return to the normal weekly working period before 1/7/2021, the start of the 12 months for these insured people will be from July 2021 onwards.
- Each beneficiary can benefit from the guarantee for a maximum of 5 additional employees.
- Each beneficiary will be able to benefit from a maximum guarantee of 400,000 TL with a maximum of 80,000 TL for each additional employee.
- All expenses will be documented by contract or invoice.
