New 250 Billion Lira Financing Support Announced for the Manufacturing Industry
The application schedule has been finalized for the 250 billion lira package prepared to support businesses' investment and production processes.
Announced by Minister of Industry and Technology Mehmet Fatih Kacır, the 250 billion lira Manufacturing Industry Financing Support offers businesses the opportunity to apply starting September 1.
Loan Limits and Maturity Options
For large enterprises, the loan amount was increased from 50 million liras to 150 million liras. Loan limits will be determined in proportion to labor costs.
SMEs and large-scale companies will be able to benefit from financing opportunities with up to 6 months of grace periods and up to 36 months of maturity.
Interest Rates and Cost Support
While fixed-cost loans will be utilized at an interest rate of 37 percent, the rate for variable-cost loans will be applied as TLREF plus one.
12 points of the financing cost for businesses that maintain their employment will be covered by the Ministry, dropping the rate down to 25 percent.
SME Guarantee and Application Process
It was officially announced that special guarantee support will be provided to SMEs within the framework of the program.
Businesses will be able to apply for the total 250 billion lira financing package starting September 1.