14.03.2017 Ankara
The 'Respite Credit' project, which started with the support of the Union of Chambers and Commodity Exchanges of Turkey (TOBB) Credit Guarantee Fund (KGF), Ziraat Bank, Denizbank and the chambers and stock exchanges, has become a true source of respite for SMEs. TOBB President M. Rifat Hisarcıklıoğlu has announced that 27,000 companies have used loans totaling 2.6 billion TRY so far and announced that loans are projected to reach over 4 billion TRY when the project is completed. Wholesale and retail, manufacturing, construction, transportation and storage are the sectors that are using the credit most frequently.
The 'Respite Credits,’ actualized to provide
access to finances for SMEs has given them much needed breathing room in just 3
months. TOBB President M. Rifat Hisarcıklıoğlu explained that 27,000 SMEs have benefited
from the project in the 3 months since the start of the project on December 12th,
2016; the total loan volume has reached 2.6 billion TRY. Hisarcıklıoğlu stated
that the 'Respite Credits' created through the sacrifice of TOBB, the Credit
Guarantee Fund (KGF), Ziraat Bank, Denizbank and TOBB’s chambers and commodity exchanges
is an important boost for the business world with low interest rate. When it is
completed, they would have provided 4 billion TRY in finances to SMEs.
TOBB President Hisarcıklıoğlu, urging
all SMEs in need of finances to make use of this opportunity, said, “Regarding
the accessible finances provided by our Union and its chambers and stock
exchanges as well as a 85% surety by KGF in addition to a 9.9% interest rate up
to 150.000 TRY are utilized. This is a world first. We provide credit to our
members, and we vouch for them. Credit costs are also lower than deposit rates.
Today, in the banking sector, the banks are collecting deposits at 12%. We are
using loans with interest below 10%.”
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Which sectors and provinces are at the forefront?
When the Respite Credit usage
statistics are examined; Wholesale and retail, manufacturing, construction,
transportation and warehousing were the sectors that used the most loans
respectively. The wholesale and retail sectors have used nearly half of the total
credit withdrawn. When we look at the sub-divisions of the manufacturing
sector, the production of food products, the manufacture of metal products and
the production of machinery and equipment sectors are at the top.
Respite Credit has been drawn in all
provinces of Turkey. The most frequent use was in İstanbul, Ankara, İzmir,
Bursa and Kocaeli in that order. The credit volume reached 400 million in
Istanbul, 350 million in Ankara and 200 million TRY in Izmir.