Treasury and Finance Minister Nureddin Nebati made a statement at the press conference regarding the support of the Credit Guarantee Fund.
Some of the headlines from Minister Nabati's speech are as follows:
“We have created a standard rating system that takes into account the internal rating systems of all banks. In this context, companies; We categorize them into five groups based on their financial soundness, past debt service behavior and collateral needs. Accordingly, we evaluate our companies in five groups, the highest group being the first group and the lowest group being the fifth.
In the forthcoming period, the sureties that we want to make available within the scope of the system, mainly the third group with credibility but lack of collateral; We plan to make use of the second and fourth groups. We certainly do not make loans to the first group of companies with very high credibility and no collateral problems, and to the fifth group, which has a very low credibility. In this direction, we plan to provide 60 percent of our guarantee facility to the third group, 30 percent to the second group and 10 percent to the fourth group companies.
We will ensure that payments are made directly to the vendors by integrating all expenditures related to the loans extended with the Financial Institutions Union Central Invoice Recording System and the Participation Banks Union Participation Banks Invoice Recording System. Thanks to this system, invoices will be tracked completely electronically, misuse of credits will be prevented to a significant extent, canceled invoices will be tracked and the same invoice will be prevented from being subject to more than one loan.
We do not forgive in cases where the credit and surety opportunities we offer are misused, certification with fake invoices, false declarations, foreign currency purchases with credit and past credit debts in the same bank with this credit. We have implemented the black list application for these situations. To put it more clearly, the companies that we have identified these situations will no longer benefit from the Treasury Backed Guarantee System. In addition, we will impose sanctions on creditors in cases such as the failure of the invoice and certification process to operate properly and refinancing.
Minimum surety rate is 70 percent
In addition to the grace period in our support packages, we will apply a minimum guarantee rate of 70 percent.
Credit support packages
With the Operating Expenses Support Package, which has a surety limit of TL 35 billion, we provide financial support for all fixed expenses of our businesses, especially salaries and rent payments. Thus, we aim for our companies to continue their activities in a healthy way.
We aim to contribute to the reduction of the current account deficit by increasing the number of existing exporting companies and export volumes by supporting all our companies, especially our SMEs, operating in this field in our country, with the Foreign Exchange Earning Activities Support Package, which has a surety limit of 35 billion TL.
We plan to increase sustainable production by supporting investments in every field in our country with the Investment – Project Finance Support Package, which has a guarantee limit of 20 billion TL. In this context, we are determined to strengthen qualified investment areas by providing higher amounts of credit to our companies that have received the Investment Incentive Certificate.
With the Manufacturing Industry Support Package, which has a guarantee limit of 15 billion TL, we will support investments in the manufacturing industry by increasing productivity, production, employment and exports in the manufacturing industry of our country.
With the EYT Support Package, which has a guarantee limit of 25 billion TL, we aim to alleviate the severance pay burden of our employers in the EYT process.
With the Regional Focused SME Support Package, which has a guarantee limit of 10 billion TL, we contribute to the economic development of the region where they are located, by providing support to the investment, employment and export-oriented projects of enterprises, primarily the manufacturing industry.
With the Entrepreneur Support Package, which has a surety limit of TL 4 billion, we will support innovation and high technology production by improving the entrepreneurship ecosystem and facilitating the access of young and techno entrepreneurs to finance.
We are determined to strengthen the women's entrepreneurship ecosystem by supporting our women entrepreneurs who want to open a new workplace or who are operating based on a business idea, and our women entrepreneurs and women's cooperatives with the 4 billion TL surety limit.
With the Green Transformation and Energy Efficiency Support Package with a guarantee limit of 7 billion TL, we will eliminate the risks posed by the problems caused by climate change for our country's economy and support SME-sized companies for projects aiming at green transformation.
We aim to enable SMEs to complete their digital transformation processes with the Digital Transformation Support Package, which has a guarantee limit of 1 billion TL. We will support expenses related to internet infrastructure installation and rental, hardware and software purchase/rental expenses, hardware support and software license expenses.
With the Education Support Package, which has a guarantee limit of 10 billion TL, we will support private schools, which have difficulty in paying their personnel expenses, to continue their activities in a healthy way by providing financial support.
With the New Home Program Construction Support Package, which has a guarantee limit of TL 20 billion, we will provide affordable financing to housing producers in order to increase the housing supply that appeals to the middle-income group. Within the scope of the package, the beneficiaries will undertake to carry out their projects under the My New Home Programme. At the same time, he will sign a Guarantee Agreement with the bank for the completion of the project. We will support contractors if they meet these conditions.
With the Housing Construction Support Package, which has a guarantee limit of 10 billion TL, we will support our small and medium-sized construction companies with unfinished projects in order to eliminate the supply/demand mismatch in the construction sector.”
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