Prime Minister Binali Yıldırım announced on late Wednesday that the Science, Industry and Technology Ministry has provided three-year support with a one-year grace period to tradesmen, and that 15,000 tradesmen will benefit from this opportunity for 2016 with the aim of financially supporting small and medium sized enterprises (SMEs), at a meeting with the representatives of tradesmen.
Pointing out that the number of applicants for the support has reached 250,000 so far, Yıldırım underlined that the said support will be given to anyone complying with the rules without limitation. Stating that this support is expected to exceed 15,000 people, Yıldırım noted that if necessary, the support will be taken from other parties and transferred here, and that they will do whatever it takes to ensure that the citizens and tradesmen are not aggrieved.
Yıldırım said they have given support to young entrepreneurs and women, recalling that they have distributed TL 1.5 billion ($414 billion) to 48,355 tradesmen so far within the framework of a zero-interest loan application.
Yıldırım stressed that they provided easy terms of payment to tradesmen and craftsmen in their debts to public institutions and professional associations, removed the social security support premium which is cut off from the salaries of those who continue their businesses after retirement, and reduced the cuts made from 50 percent treasury-backed loans on behalf of cooperatives from 9 percent to 3 percent. Noting that they postponed the bank debts of terror-stricken tradesmen and craftsmen, who lost their jobs or businesses due to terrorist attacks, for one year with zero-interest, Yıldırım said they will continue to apply an interest-free loan of TL 50,000 to SMEs with a three-year maturity and a one-year grace period.
Previously in early December, as part of the decisions taken by the Economic Coordination Board, the premiere announced that a loan volume of TL 250 billion will be established with the Credit Guarantee Fund in order to relieve the cash needs of the companies in the market. While this number is way above the firms with a congestion of about TL 40 billion, SMEs will mainly benefit from this in addition to those who deal with trade. The guarantee will be 100 percent in the export credit, 90 percent in SMEs, and 85 percent in trade.