New Regulation on Treasury Interest-Supported Loans for Tradespeople
New rules have entered into force that facilitate access to Treasury interest-supported loans for tradespeople with tax and SSI debts.
A new regulation has been implemented enabling tradespeople and artisans with tax or Social Security Institution premium debts to benefit from Treasury interest-supported loans.
Conditions for Accessing Credit
The situation that completely prevented tradespeople with tax or Social Security Institution premium debts from accessing credit has been eliminated.
Individuals applying for credit are required to submit a document obtained no more than 15 days prior.
Payment of Debts from the Credit
A certain portion of the debt can be transferred directly from the credit used to the relevant institutions.
This payment shall not exceed 25 percent of the credit amount and will be capped at 300 thousand liras within a year.
Interest Support and Rates
An update has been made to the interest support rates for tradespeople and artisans who pay off their debts through the credit.
Previous interest discount rates have been re-determined and adjusted to new levels.
Application Period and Limits
The credit application period granted to tradespeople and artisans has been extended until December 31, 2027.
An upper limit of 1.5 million TL for working capital and 3.5 million TL for investment loans is applied.