Union of Chambers and Commodity Exchanges of Turkey

TOBB Breath Credit resumes June 1st

26.05.2021 / Ankara

TOBB Breath Credit is being implemented for the 8th time to mitigate the impact of the Covid-19 pandemic on businesses. TOBB President M. Rifat Hisarcıklıoğlu said, “As TOBB and 365 Chambers-Exchanges, we have mobilized all our resources.”​

The Union of Chambers and Commodity Exchanges of Turkey (TOBB) Breath Credit resumes on June 1st, 2021. Applications can be made to Ziraat Bank, Vakıfbank, Halkbank, İş Bank, Garanti Bank, Yapı Kredi Bank, Akbank, Denizbank, Ziraat Participation and Vakıf Participation Bank with the activity certificate from TOBB's chambers and exchanges. The Credit Guarantee Fund (KGF) will also vouch for loans with Treasury support.

With the loan, businesses will be given a 6-month complete grace period. Loan installments will be paid in 12 equal parts after the grace period. The interest on the loan will be 17.50% per year. Businesses with a turnover of TL 10 million or less and a 25% loss in 2020 turnover will be able to benefit from the loan. After 2019, there will be no requirement for loss of turnover in established enterprises.

SMEs with a turnover of 1 million TL in 2020 will be able to use a maximum of TL 50,000 and SMEs with a turnover of between TL 1-10 million will be able to use a maximum of TL 200,000.

- Hisarcıklıoğlu: “We have mobilized all our resources.”

TOBB President Hisarcıklıoğlu said: “As TOBB and 365 Chambers and Exchanges, we give all our resources to our members with Breath Credits. In order to meet the financing needs, we are reinvigorating TOBB Breath Credits. Companies with a turnover of less than TL 10 million and who have lost 25% of their turnover in 2020 compared to 2019 will be able to apply to bank branches with the membership certificate they will receive from the Chambers and Exchanges they are members of from Tuesday, June 1st. Our businesses that want to benefit from the credit can also obtain the membership certificate as an e-document from TOBB or chamber-exchanges systems online without going to the chambers-exchanges.”

Hisarcıklıoğlu stated that he was pleased with the intensive participation of the banks in the project. “‎I would like to thank our banks for their support of this project. ‎ Our members will be able to use loans from branches of 10 banks all over Turkey. The interest rate on the TOBB Breath Credits will be 17.50 percent per year. A maximum of 200,000 lira credits can be used according to turnover. The 6-month grace period is the most important issue for our businesses right now. There will be no principal or interest payments for 6 months. Hopefully, with the introduction of vaccination by then, things will return to normal and our businesses will return to their normal lives.”

Hisarcıklıoğlu stated that he believed that the project would meet an important need, and said, “I would like to thank President Recep Tayyip Erdoğan, Treasury and Finance Minister Mr. Lütfi Elvan and Trade Minister Dr. Mehmet Muş, who mobilized their resources for the project, and the representatives of the financial sector, banks and KGF, who enabled the project to be implemented.”

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