Madosa Tekstil Benefits from the Project Adjustments

Madosa Tekstil operates in Kahramanmaraş where the devastating earthquake occurred. They can benefit from the FOSTER Project thanks to the flexibilities introduced for SMEs affected by the earthquake. Madosa Tekstil, which purchased raw materials with the loan received from the Employment Committed SME Finance Support Programme, plans to increase its production in the future.

Madosa Tekstil, which lost four employees in the February 6, 2023 earthquake, was discovered to be slightly damaged during post-earthquake inspections. Just one week after the earthquake, the business owners resumed production. Yet, due to the earthquake, the enterprise was unable to meet its FOSTER Project employment commitments because its employees were relocated to different provinces. Serkan Kayabaş, Personnel Supervisor, stated that they have continued to benefit from the project through the flexibilities introduced to the earthquake-affected provinces, and added, “In the first monitoring period, we could not apply for the support for the repayment of half of the interest payment because most of our employees moved to other cities and we could not meet the previous year’s average number of SSI premium days. We were already having difficulty finding employees for the new employment commitment, but thanks to the new flexibilities, we were able to apply for payment for two monitoring periods, which were promptly paid.”

Kayabaşı stated that they used the loan provided by the Employment Committed SME Finance Support Programme to purchase yarn as raw material and that they chose the loan because of “its long maturity, low and subsidised interest rate / profit share.

Madosa Tekstil manufactures raw fabric in its facility built on a total area of 16 thousand square metres, 13 thousand square metres of which is a closed area. In 2022, the company produced 31.8 million square metres of fabric and is still producing today with 138 machines and 150 employees. Because it primarily sells to Istanbul and Bursa, the company encountered no problems with post-earthquake orders. Madosa’s current goal is to increase production, and the company plans to expand its machinery park next to its existing facility in the future.