Business · Companies · 18 hrs ago
New TOBB Nefes loan applications open November 3
TOBB, Turkey’s chambers and exchanges body, is opening a new 50 billion-lira tranche of its Nefes Credit programme on November 3.
The programme is designed to help small and medium-sized businesses access financing for day-to-day operating needs.
Businesses belonging to TOBB chambers or exchanges can apply through participating banks.
Companies that borrowed in earlier rounds can apply for more, up to the 5 million-lira limit per company.
The loans offer up to 48 months to repay, including six months without principal payments; annual interest is 36% for terms up to 24 months and 34% for longer terms.
The programme has already provided 45 billion lira since opening on June 8, and the new tranche aims to provide an additional 50 billion.
Applications for the new tranche begin November 3, with no further dates for the programme given.
Applications for a new tranche of Turkey’s TOBB Nefes loan program open on November 3.
The program is run by TOBB, the Credit Guarantee Fund and participating banks to help small and medium-sized businesses access financing.
The new tranche aims to provide an additional 50 billion lira in loans, after 45 billion lira was disbursed through the program so far.
Businesses can borrow up to 5 million lira each, including additional borrowing for businesses that used earlier tranches.
Loans have a maximum term of 48 months, including a six-month principal repayment-free period, with annual interest rates of 36% or 34% depending on the term.
- Who
- Businesses that are members of TOBB-affiliated chambers and commodity exchanges can apply.
- What
- Applications open for a new tranche of the TOBB Nefes loan program, targeting an additional 50 billion lira in loans.
- When
- November 3. The sources identify it as a Tuesday.
- Where
- Through participating banks in Turkey.
- Why
- The program aims to help small and medium-sized businesses meet working-capital needs and access financing on suitable terms.
This story does not have two clearly opposing sides.
The TOBB Nefes loan program opened for use.
The program had disbursed 45 billion lira in loans over five months.
Applications for the new tranche are scheduled to open.
- New tranche
- 50 billion lira in additional financing targeted
- Maximum loan
- 5 million lira per business
- Maximum term
- 48 months, including six months without principal payments
- Interest rate
- 36% annually for terms up to 24 months; 34% for longer terms
- Participating banks
- Denizbank, QNB Bank, Ziraat Bankası, Garanti Bankası, Halkbank, Vakıfbank, Yapı ve Kredi Bankası and Ziraat Katılım Bankası
3 sources
What people are saying
The demand we have seen clearly showed how much the real sector needs the Nefes loan.
As long as our SMEs continue to produce, provide employment and export, we will continue to stand by them.