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Turkey eases credit access for tradesmen with tax or SGK debts
A new Presidential Decree has introduced significant changes to Treasury-subsidized investment and operating loans for tradesmen and artisans in Turkey. Previously, having outstanding tax or Social Security Institution (SGK) debts acted as a total barrier to accessing these low-interest loans. Under the new regulation, businesses with overdue debts can now access financing provided they have structured or installment-based repayment plans in place.
Key features of the new system include:
- Loan Limits: General credit limits have been increased to 1.5 million TL, while limits for purchasing workplaces or vehicles have reached 3.5 million TL. - Debt Settlement: Up to 25% of the loan amount (capped at 300,000 TL per year) can be used to directly pay off the borrower's outstanding tax or SGK debts. The bank transfers this portion directly to the relevant public institutions. - Adjusted Interest Rates: Interest subsidies have been revised. For general investment and operating loans, the subsidy has decreased from 50% to 40%, resulting in an annual financing cost of approximately 24%. For young entrepreneurs and disappearing professions, the subsidy is 80%, leading to an 8% annual cost.
Bendevi Palandöken, President of the Confederation of Turkish Tradesmen and Craftsmen (TESK), noted that while the measure provides much-needed breathing room and prevents businesses from being excluded from the system, the reduction in subsidy levels may increase costs for some.
Entities
Bendevi Palandöken · Central Bank of the Republic of Türkiye · Confederation of Turkish Tradesmen and Craftsmen · Halkbank · Mehmet Şimşek · Ministry of Commerce · Ministry of Trade · Ministry of Treasury and Finance · Republic of Türkiye · Social Security Institution · TESK · Turkey
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 15 SOURCES] Presidential Decree No. 11648 has modified the terms for Treasury-subsidized investment and business loans for tradespeople. www.hamlegazetesi.com.tr · www.marasbugun.com.tr · www.gazeteabc.com · www.sehrivangazetesi.com · www.sivasirade.com · +10 more
- [● 3 SOURCES] The maximum credit limit for tradespeople has been increased to 1.5 million TL, with limits up to 3.5 million TL for workplace and vehicle purchases. www.habermeydan.com · www.kocaelizirve.com · www.konyayenigun.com
- [● 5 SOURCES] The amount deducted from the loan to pay debts is capped at 300,000 TL per year, regardless of the total loan amount. www.sehrivangazetesi.com · www.habermeydan.com · www.kocaelizirve.com · www.takagazete.com.tr · www.konyayenigun.com
- [● 7 SOURCES] The interest subsidy for disappearing professions, master entrepreneurs, and young entrepreneurs has been reduced from 100% to 80%. www.gazeteabc.com · www.sivasirade.com · www.yenicizgihaber.com · www.bursahaber.com · tasinmazhaber.com · +2 more
- [● 8 SOURCES] The Treasury interest subsidy for general investment and business loans has been reduced from 50% to 40%. www.marasbugun.com.tr · www.gazeteabc.com · www.sivasirade.com · www.yenicizgihaber.com · www.bursahaber.com · +3 more
- [● 6 SOURCES] Up to 25% of the Treasury-subsidized loan can be paid directly by the bank to the relevant tax or SGK authorities to cover outstanding debts. www.sehrivangazetesi.com · www.habermeydan.com · www.kocaelizirve.com · www.takagazete.com.tr · tasinmazhaber.com · +1 more
- [● 7 SOURCES] The interest subsidy for participants in approved projects and technical support programs has been reduced from 60% to 48%. www.gazeteabc.com · www.sivasirade.com · www.yenicizgihaber.com · www.bursahaber.com · tasinmazhaber.com · +2 more
- [● 15 SOURCES] Tradespeople with outstanding tax or Social Security (SGK) debts can now access Treasury-subsidized loans. www.hamlegazetesi.com.tr · www.marasbugun.com.tr · www.gazeteabc.com · www.sehrivangazetesi.com · www.sivasirade.com · +10 more