Breaking news: State-owned banks have launched four new products to provide long-term business loans to companies with the potential to provide additional employment.

Four new products were launched by Ziraat Bank, Halkbank and Vakıfbank to provide low-cost and long-term operating loans to companies that have the potential to provide additional employment for up to 2 years with a grace period of up to 5 years, under favorable conditions.

I-Employment Focused Business Loan - Manufacturing Industry Sector

Customers operating in selected labor-intensive manufacturing industries, with at least 10 employees, and undertaking at least 5 additional employment increases within 3 months will be able to benefit, and the increase in employment will need to be maintained throughout the loan term. The amount of credit per additional employment was 100 thousand TL for textile and apparel and 200 thousand TL for other manufacturing industry sectors.

II-Employment Focused Business Loan - Service Sector

Customers operating in selected labor-intensive service sectors, with at least 10 employees, and undertaking at least 5 additional employment increases within 3 months will be able to benefit, and the increase in employment will need to be maintained throughout the loan term. The amount of credit per additional employment will vary between 5 Thousand TL-100 Thousand TL.

III- Ongoing Residential Construction Projects Employment-Oriented Business Loan

In the projects where the Revenue Sharing Method is applied, which cannot be completed due to the deterioration of the market conditions or the contractor firm having access to finance, the amount of credit required for the completion of the construction can be extended. With the financial resources to be provided, the possible loss of employment will be prevented or the lost employment will be regained.

The employment-oriented loan can be extended up to a maximum of 2 years with a principal grace period and a maturity of up to 5 years.

IV-Overseas Contracting Sector Employment Oriented Business Loan

Construction and contracting projects abroad contractors winning contracts from companies, employment of staff who undertake to provide at least 75% of firms with labor will be brought from Turkey will be able to use in this context credit. These companies will be able to use the definite and advance guarantee letters they need with a maximum of 5 per thousand commissions, and cash loans up to 5% of the tenders they receive abroad for the companies that cannot get advances related to their business.