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Applications for the SME Finance Support Programme are Still Open
Applications for the Employment Committed SME Finance Support Programme within Empowering the Private Sector to Foster Social and Economic Cohesion in Türkiye (FOSTER) continue to be accepted in 15 project provinces.
The Programme offers interest rate/profit share subsidy support to small and medium sized enterprises (SMEs) from the project funds of up to totally 30 million Euros conditional to retaining/creating formal employment. Applicant enterprises in the 15 Project provinces will be able to access to finance with favorable conditions for their investment and working capital needs.
Eligible SMEs can obtain loans up to 2.5 million TRY within the programme with a maturity of 24 months. Loan payments are scheduled to be made every three months with a reimbursement of %50 of their interest/profit share.
The programme aims to reach at least 1.500 businesses and create/retain formal employment for at least 3,000 people.
SMEs can apply to the programme through the branches of Denizbank A.Ş., Türkiye Vakıflar Bankası T.A.O., Vakıf Katılım Bankası A.Ş., T.C. Ziraat Bankası A.Ş., Ziraat Katılım Bankası A.Ş.
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FOSTER Team Visited Project Stakeholders
The FOSTER Project Team met with stakeholders in project provinces through field visits as part of the Employment Committed SME Finance Support Programme. Ankara, Adana, Bursa, Gaziantep, Hatay, İstanbul, İzmir, Kahramanmaraş, Kayseri, Kilis, Kocaeli, Konya, Mardin, Mersin and Şanlıurfa were among the Project provinces visited.
Project Team came together with the regional and branch directorates of the project partner banks Denizbank A.Ş., Türkiye Vakıflar Bankası T.A.O., Vakıf Katılım Bankası A.Ş., Türkiye Cumhuriyeti Ziraat Bankası A.Ş. and Ziraat Katılım Bankası A.Ş in the provinces.
The team also met with the representatives of chambers of commerce and industry, organized industrial zones and SME oriented NGOs to share the details of the Employment Committed SME Finance Support Programme.
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Applications for the Grant Program Have Been Launched!
Applications for the Employment Committed SME Support Programme, the second component of the FOSTER Project, have been launched. A total of up to 35 million euros of grant support will be provided to SMEs with the Employment Committed SME Support Program implemented within FOSTER Project - Empowering the Private Sector to Foster Social and Economic Cohesion in Türkiye.
Eligible SMEs can obtain grant support of 1 million Turkish Liras in return of four employment commitments, two of which must be created; and those who commit to hiring two employees; one of which must be created, can apply for a 500 thousand Turkish Lira grant.
Support ratio is 70% of eligible personnel expenses and will be increased to 100% of personnel expenses for the beneficiary SMEs creating employment for youth (under the age of 30) and/or women. Other Expenses (i.e. machinery, equipment, software, training etc.) must constitute maximum 50% of the overall proposed support budget.
The grant programme aims to create/retain employment for at least 2,788 people through supporting at least 697 businesses.
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Information Meetings Kick Started!
Information Meetings to be implemented in 15 provinces kick started within the FOSTER Project, financed by the European Union and managed by the KfW Development Bank. SMEs are informed in detail on the application processes of the programmes implemented within FOSTER Project.
The FOSTER Project aims to contribute to social cohesion by promoting economic growth and stability in Ankara, Adana, Bursa, Gaziantep, Hatay, İstanbul, İzmir, Kahramanmaraş, Kayseri, Kilis, Kocaeli, Konya, Mardin, Mersin and Şanlıurfa.
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This newsletter was created with the financial support of the European Union. The content is the sole responsibility of KOSGEB and does not necessarily reflect the views of the European Union. |
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