FOSTER Project Relieves Temizsoy’s Cash Flow

Having used a loan for the first time with the FOSTER Project, Temizsoy Mobilya had improved its cash flow thanks to the interest rate/profit share subsidy. Oktay Temizsoy, one of the company partners, mentions they purchased raw materials with the loan to expand their exporting activities.

When it was established in 1986, the company produced only furniture frames. Today, it continues to operate by producing flooring with 50 employees and 20 different product lines in the field of furniture and armchairs. Temizsoy explains that while the business was growing, it was challenging to find qualified employees. However, they were able to overcome these challenges by using social media to reach more people and the opportunities provided by the FOSTER Project for long-term employment. Temizsoy notes that there were delays in container shipments and that their business was impacted by the Covid 19 pandemic-related measures, but he adds that as soon as those measures were lifted, their business and orders increased. Temizsoy Mobilya has been exporting to almost all European countries as well asIraq, Saudi Arabia, Palestine, Uzbekistan, Kazakhstan, Canada and Ghana and aims to increase the exports of the company. Due to a tendency towards automation, they also want to expand the machinery-equipment park while decreasing the human workload.

Temizsoy underlines that the FOSTER Project Employment Committed SME Finance Support Programme relieved their cash flow and the most advantageous aspect of the loan is the long-term maturity and low interest rate.