Three public banks are implementing ‘Continuing to Work Loan Support’

Ziraat Bank, Halkbank and VakıfBank announced that they will implement “Continuation of Business Credit Support” for the working capital needs of corporate and commercial scale companies.

According to the joint statement made by 3 public banks, in line with the “Economic Stability Shield” measures implemented with the aim of minimizing the possible damage to economic life, production and employment due to the new type of coronavirus (Covid-19) epidemic, which is experienced on a global scale and affects Turkey, Ziraat Bank , Halkbank and VakıfBank launched new financial support steps.

Acting responsibly and working together will allow this process to be overcome as soon as possible. In this context, “Employment Continuation Credit Support” will be implemented by 3 public banks for the working capital needs of corporate and commercial scale companies, especially SMEs.

Credit terms

According to the statement, all companies negatively affected economically by the epidemic, regardless of any sector, can apply for this support.

Companies that will use credit support will be required to not reduce the number of registered employees as of the end of February.

Treasury-Backed Credit Guarantee Fund (KGF) guarantee will also be provided for companies with a lack of collateral to access credit. The loan support will be with a 6-month principal and interest payment grace period, a total maturity of 36 months, and an annual interest rate of 7.5 percent.

Banks will start accepting requests starting tomorrow.

Source: https://www.aa.com.tr/tr/ekonomi/uc-kamu-bankasi-ise-devam-kredi-destegini-hayata-geciriyor/1778974

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