10 billion lira loan support from banks to tourism professionals

The Banks Association of Turkey, in order to support the reduction of the impact of the epidemic will be introduced to the Tourism Support Package Applications.

16.10.2020 15:29:000

The Banks Association of Turkey (TBB), according to the statement made by reducing the effects of the epidemic, to support the protection of the market value of production and employment capacities, and suppliers of these businesses alongside businesses in the tourism sector salaries and rent payments with contracts or bills due to fixed expenses, cash requirements and corporate credit card spending Tourism Support Package Implementation will be initiated to meet

10 billion TL credit will be provided by the banks with the guarantee of the Ministry of Treasury and Finance and the guarantee of the Credit Guarantee Fund. The credits will have a maturity of 48 months, with a maximum grace period of 12 months, provided that they do not exceed 1 November 2021. The interest rate was determined as 14.5 percent maximum for fixed rate loans and TLREF + 200 basis points for variable rate loans.

The upper limit of guarantee per beneficiary will be 32 million TL and the upper limit of the loan will be 40 million TL. Credit and surety limits will be based on turnover ranges. Details on the principles of implementation can be found on the website of Kredi Garanti Fonu.

Banks that will make use of the Tourism Support Package; Akbank Albaraka Turk Participation Bank, Denizbank, Garanti BBVA, Halkbank, İş Bank, Kuwait Turkish Participation Bank, QNB Finansbank, TEB, Turkey Finans Participation Bank, Vakıfbank Foundations Participation Bank, Yapi Kredi, Ziraat Participation Bank and Ziraat was ranked as the Bank.

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