The Turkish government gives “Breath” to owners of medium and small companies

The Turkish government gives Breath credit

In dealing with the Covid-19 outbreak, the Turkish government continues to support its people to overcome this period. Accordingly, President Recep Tayyip Erdogan announced a new economic support ” NEFES KREDİSİ: Breath credit” to assist various sectors.

At the beginning of this month, applications began for the “breath credit” project. Which carried out in cooperation with the Union of Chambers and Commodity Exchanges of Turkey (TOBB), Credit Guarantee Fund (KGF), Ziraat Bank and Deniz Bank .

The “Breath Credit” project based on the following idea:

The Union of Chambers and Commodity Exchanges (TOBB) deposits the equivalent of 500 million Turkish liras in Ziraat and Deniz Bank. Which will give the opportunity to use loans worth 5 billion Turkish liras (10 times this amount). Then the role of the Credit Guarantee Fund comes. It will guarantee the small and medium business owners who cannot use loans due to the lack of their guarantees.

Who can benefit from The “Breath Credit”? How much is it? What is the payment plan?

The Turkish SMEs, which is the most affected by the epidemic, will be able to use of 50k, 100k or 150k TL. Depending on the provinces In which it operates and also according to its turnover volume during 2020.

The loan facility will have a 6-month grace period. And moreover, the creditor can repay in 12 installments with low interest (9.90% per year).

They expected that 70.000 SMEs will use the “breath credit” within two months.

It is worth noting that Turkey has begun to return to its normal life. With the beginning of this month, July, all night and weekend curfews, which have been in force for months, have been completely canceled. There will be no restrictions on travel between Turkish cities. Cafes and restaurants are now allowed to receive customers without restrictions.
This came after the Turkish government announced that it had exceeded the 51 million doses of Coronavirus vaccination for its people and residents. As a part of a plan to implement a rapid vaccination schedule. That exceeded the threshold of 1.5 million doses of the Corona vaccine per day.

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