Speaking during the signing ceremony of a "brand loan" between Eroğlu Holding and Türk Eximbank, Hayrettin Kaplan, the bank's General Manager, said the reason for establishing the loan company is to support exporters. "We provided $31 billion in loans to exporters last year, which equals 19 percent of Turkey's total export rate," Kaplan said, adding that the bank aims to offer $35 billion in loans this year. "Our annual target will then be equal to 20 percent of Turkey's total export rate," Kaplan continued. As Turkey's loan bank for exporters, the Türk Eximbank defined its principal purpose as developing exports, creating new markets for export goods and diversifying export goods and services. "Eximbank is an institution established specifically for exporters. We are here to support them. They compete in world markets," Kaplan further said. The Türk Eximbank offers financial support to Turkish exporters in two main categories. Kaplan said they provide loans to Turkish exporters at home and buyers abroad. Eximbank generally offers low interest export loans, Kaplan said. "The bank also assures the guarantee of purchase in exporters' short, medium and long-term sales," he added. An insurance service is offered to exporters, making their receivable management much safer. The Türk Eximbank signed a "brand loan" agreement with Eroğlu Holding. The signature ceremony was overseen by Kaplan and Nurettin Eroğlu, the CEO of Eroğlu Holding. In the following terms, Eximbank will support companies planning to purchase brands from abroad with affordable loans for a 10-month term. Eroğlu said they acted quickly and left all the other competitors behind during the purchasing process of fashion brand Mexx thanks to the loan borrowed from Eximbank.