According to the information obtained from the Ministry of Industry and Technology, KOSGEB SME Finance Support Program-Emergency Support Loan was launched on October 21, 2019 in order to facilitate SMEs’ access to finance and to use suitable loans from banks.
In this context, the volume of loans extended from banks to date has reached 445 million TL. The entire profit share or interest of the loan amount, i.e. 126 million lira, was covered by KOSGEB.
Periodic and need-oriented “emergency support loans” include entrepreneurial enterprises registered and active in the KOSGEB Database, up-to-date SME Information Statement, not banned from KOSGEB supports, and enterprises in strategic and priority sectors.
Industry and Technology Minister Mehmet Fatih Kacır announced yesterday that KOSGEB will provide “Emergency Support Loans” up to 300 thousand liras to SMEs in the provinces affected by the flood. In addition to Bartın, Düzce, Ordu, Zonguldak, Samsun, Kastamonu and Sinop, businesses in Artvin, Bolu, Giresun, Karabük, Kocaeli, Rize, Sakarya and Trabzon will also be provided with loans from the promised package.
About the operation of the program
Emergency Support Loan Programs are implemented as follows:
– In the Emergency Support Loan application, the scope of support, upper limit and support rate are determined by the Minister of Industry and Technology, who is the Chairman of the Executive Committee.
– The first 12 months of the loan term are determined as a total of 36 months, with no payment, the remainder being paid in equal quarterly installments.
– Loan interest and profit share amounts are met from KOSGEB budget and the necessary budget for the program is transferred
– Credit Guarantee Fund AŞ becomes a party to the protocol to be arranged in order to eliminate these problems of businesses that have a shortage of collateral.
– General application and implementation criteria, as well as business and transactions on other issues are carried out within the framework of KOSGEB SME Loan Interest Support Regulation and a protocol is signed with the relevant parties.