News from the Minister for SMEs : SME Loan is Coming
Nowadays, when the economic agenda is very active, we can say that SMEs were given good news with the statement made by Economy Minister Berat Albayrak and Trade Minister Ruhsar Pekcan on August 31, 2018.
In the joint statements made by the two Ministers; It has been announced that SME Support Loan with CGF (Credit Guarantee Fund) will be given for Small and Medium Size Enterprises (SMEs). Let us begin to convey the subject to the finest details for our esteemed readers.
What Does SME Support Loan Mean For SMEs
When we look directly at the statements made by the Minister of Treasury and Finance Berat Albayrak in this regard;
“Today, we will earn its name together. I would like to express my happiness to be with you within the scope of SME Support Loan. I find it important to be chosen as a slogan. We said this in the face of economic attacks that started in July and peaked in August. We will eventually win.
Our banks, most of all, as far as being in strong solidarity in Turkey’s history, with the support of our nation to the world a very strong offer Turkey a photo. As of today, we are clamping to get much stronger than this test we are facing. We’re putting our hands under the stone, trying to move Turkey is a much stronger economy. “
Credit Guarantee Fund will vouch
The SME support loan, which was previously implemented as the Breath Loan, continues from where it was again as the SME Support Loan in the revised state. The most important detail in this loan is; for the loan in question, the Credit Guarantee Fund is a guarantor to the SME that will use the loan. In other words, CGF (Credit Guarantee Fund) will enter the circuit in case the loan cannot be paid. Of course, it will not be possible to not play after the loan use and leave the debt to the Credit Guarantee Fund.
The main reason for the guarantee of the Credit Guarantee Fund is; It can be said that facilitating the use of credits of SMEs that have problems in terms of using loans, and that some kind of banks provides loans to SMEs by minimizing their risk levels. Now, What is the Credit Guarantee Fund explaining to you; Let’s continue with topics such as SME Support Loan Terms, Interest Rates, Repayments.
CGF SME Support Loan Terms
When we look at the details of the Credit Guarantee Fund SME Support Loan;
Each member can use a maximum of 200 thousand credits,
Monthly interest rate will be 1.85%,
The annual interest rate will be 22%,
The repayment plan is; the main money will be completed in a total of 18 months, with 6 months non-refundable and 12 equal installments in the next period,
The Credit Guarantee Fund will vouch for 85% of the loan amount withdrawn.
Terms and Details of CGF SME Support Loan
At this point, of course, the most important criterion; is related to SME (Small Medium-sized Individual Business) class. Let us briefly describe the SME definition with a sentence. According to the latest regulations, SME;
“The annual net sales revenue and the financial balance upper limit is 125 million, the annual number of employees is upper limit 250” . Please am I SME that we have prepared for you in detail in this regard?
Apart from that, let’s continue with short questions and answers in some individual cases.
Can Those Who Pay Tax and Social Security Premium Debt Benefit?
Without entangling the word, the application on this subject; It should be noted that the SGK is overdue so that it should not have premium debt and tax debt. Moreover, this situation should be documented with a document that was issued 90 days before and after the loan usage.
CGF SME Support Loan Application Document Request
CGF has no document request at this point. However, in case of a deficiency in the documents required by the bank in the loan phase, CGF (Credit Guarantee Fund) can request these documents.
How Much is SME Support Loan Expenses
An application fee of 400 per request will be charged, while 250 of surety allocation fee per loan will be charged.
Also, the surety commission fee will be charged. This price is; are collected at a relative rate;
• 1% in provisional and final guarantee letters for commitment services,
• Applied at 2% on surety for all other cash and non-cash loans.
How Long Should the Company Be for CGF SME Support Loan
We can say that CGF (Credit Guarantee Fund) does not make any restrictions in this regard, it provides bail including new establishments and facilitates loan financing.
Where to Apply for CGF SME Support Loan
SME Support Loan applications; They can apply to any of the 40 CGF branches currently operating in 35 provinces of our country. SMEs in our provinces that do not have a CGF branch can apply from the city with the closest CGF branch.