Business world representatives evaluated the “Continuation of Business Loan/Financing Support”, which was implemented by Ziraat Bank, Halkbank, VakıfBank, Ziraat Katılım and Vakıf Katılım for the working capital needs of corporate and commercial scale companies, to the AA correspondent.
Istanbul Chamber of Commerce (ITO) President Şekib Avdagiç said that it is essential to continue employment and production in order to prevent the economy from suffering a great loss of power by complying with the measures taken against coronavirus.
Avdagiç said, “For this reason, in the Business Continuation Loan/Financing Support announced by 5 public banks, loan amounts reaching 100 million liras have been provided with extremely favorable financing conditions such as an interest/financing rate of 7.5 percent. Especially for SMEs.” “A vital resource will be created. Moreover, it is extremely appropriate to require the protection of employment in the criteria.” said.
“The success of the support depends on the spread of credit to the base.”
Avdagiç underlined that it is very important to maximize the number of companies that will benefit from credit/financing and made the following evaluations:
“The success of the support will be determined by the spread of the loan to the base. The more SMEs benefit from this loan support, the greater its impact will be. The more companies this resource reaches, the faster the wheels will turn. All these steps taken serve as a link that completes the chain. “Short-time working allowance, postponement of loan installments and affordable financing will make a significant contribution to compensating this process.”
Avdagiç added that the loan packages will complement each other with other economic measures taken and to be taken against the coronavirus.
“It will give our businesses a breath of fresh air”
Foreign Economic Relations Board (DEIK) President Nail Olpak said that they found the Business Continuation Credit Support announced today, in addition to the previous supports of public banks, very important.
Stating that companies affected by the epidemic will be given loans with a 6-month principal and interest payment grace period, a total maturity of 36 months and an annual interest/financing rate of 7.5 percent, Olpak said:
“It will be extremely beneficial to provide loans of up to 100 million lira, depending on turnover, to all companies that are economically negatively affected by the epidemic, regardless of sector, with the precondition of not reducing employment, and to support companies with a lack of collateral with Treasury-Supported KGF Guarantee to access credit. Especially SMEs.” “It will give our businesses, including our businesses, a breath of fresh air. As the business world, we are pleased to see that every necessary step is being taken to keep the wheels of the real sector and our citizens’ economy turning during the coronavirus epidemic.”
“As the export family, we found it very positive”
İsmail Gülle, President of the Turkish Exporters Assembly (TİM), said that with the Economic Stability Shield package announced by President Recep Tayyip Erdoğan last week, measures were taken to eliminate the negativities caused by the global epidemic in the world economy, and that this development instilled morale in the business world.
Talking about the supports implemented by other banks, especially Türk Eximbank, following the announced package, Gülle explained that these developments made a significant contribution to exporters and the business world.
Gülle noted that they were pleased with the supports announced by the Minister of Industry and Technology, Mustafa Varank, especially for SMEs in healthcare products, and the decisions regarding short-time working allowance and compensatory working time announced by the Minister of Family, Labor and Social Services, Zehra Zümrüt Selçuk.
İsmail Gülle: “Today, we see the supports announced as a result of the studies carried out in our financial sector as an important development for our business world. The right to postpone the interest and commission payments of our public banks for 3 months, the possibility of restructuring to include a grace period of up to 1 year, an additional limit of 3 months of personnel salary expenses.” “As more than 95 thousand export families, we welcome the supports they put into effect, such as the opportunity to export their products.” he said.
“The measures will be effective in maintaining the current employment rate”
Abdurrahman Kaan, Chairman of the Independent Industrialists’ and Businessmen’s Association (MÜSİAD), stated that in order to minimize the social, social and economic effects of the Covid-19 pandemic, which has affected the world, in Turkey, state officials and state institutions, especially President Recep Tayyip Erdoğan, have taken extraordinary measures. He pointed out that he made an effort.
Kaan stated that, as Turkey’s most widespread and strongest capital platform on a global scale, with more than 11 thousand members and nearly 60 thousand businesses, they are at work to provide the highest level of support to the state at this point, and said:
“One of the biggest concerns for Turkey about this pandemic, which has inevitable effects on the world economy in the short and long term and is expected to create a new world order, is the possible loss of employment that will occur in parallel with the job loss of businesses. Since the day we were founded, we have been trying not only to make money but also to make money.” As a structure that prioritizes the interests of our country and the welfare of our people, we call on our members and the business world to continue employment, stating that we will do our best to prevent any negative developments at this point in our businesses operating under the umbrella of MÜSİAD and that there will be no loss of employment within our organization. In this context, We believe that the withholding tax and VAT and SSI premium deferral provided to our employers within the scope of the ‘Economic Stability Shield’ package, minimum wage support reaching a total of 7 billion lira, flexible working conditions and other facilities provided regarding compensatory working time will be effective in maintaining the current employment rate.
As in the past Employment Mobilization practices, we have full confidence that all our employers will take responsibility in order to protect employment and thus get our national economy out of this process with the least damage. With this spirit of unity and solidarity, we hope that the unemployment rate, which was at 13.7 percent as of the end of 2019, will converge to the 11.8 percent targeted within the scope of the YEP by the end of 2020. On this occasion, we make a call to the leading representatives of our business world to avoid loss of employment; We would like to thank our President Recep Tayyip Erdoğan, who enabled our nation to act as one with his unifying attitude in this process, and our Minister of Health, Dr. who carried out the process with great maturity and professionalism. We owe a debt of gratitude to Fahrettin Koca, our Minister of Treasury and Finance Mr. Berat Albayrak, our Minister of Internal Affairs Süleyman Soylu, our Minister of Trade Ruhsar Pekcan and all our ministries. “
Source: https://www.aa.com.tr/tr/ekonomi/kamu-bankalarinin-yeni-destegi-isletmelere-nefes-aldiracak/1779156
