250 Billion Liras Financing Support Package Announced for the Manufacturing Industry
The terms of the new 250 billion lira credit package to be provided to the manufacturing industry have been clarified. Businesses will be able to apply for the support starting September 1st.
Minister of Industry and Technology Mehmet Fatih Kacır shared all the details of the new 250 billion lira financing support package for the manufacturing industry during a promotion program held in Istanbul.
Promotion Program and Credit Costs
Minister of Industry and Technology Mehmet Fatih Kacır attended the Manufacturing Industry Financing Support Promotion Program held at the Istanbul Financial Center and announced the new support package.
Kacır stated that 12 points of the financing cost for credits used by businesses will be covered by the ministry, and the annual cost for fixed-cost credits will drop to 25 percent.
Application Dates and Credit Conditions
It was announced that businesses can apply for the 250 billion lira financing package prepared for the manufacturing industry starting from September 1st.
Within the scope of this support, implemented through the cooperation of public institutions and banks, companies are provided with the opportunity to use fixed and variable-cost credits.
Credit Limits and Maturity Options
Within the framework of the updated support program, the upper credit limit for large enterprises was raised from 50 million liras to 150 million liras.
SMEs and large-scale companies will be able to benefit from this financing opportunity with up to 6 months of grace periods and maturities reaching up to 36 months.
Developments in the Employment Protection Program
Minister of Minister Kacır also provided information on the efforts carried out to protect employment, stating that they have contributed to 686,000 jobs to date.
Businesses were paved the way to access 15.4 billion liras in financing within this scope, and supports in the textile, apparel, leather, and furniture sectors were increased.