Applications for Investment Commitment Advance Loans are beginning

Within the scope of the program to be implemented by the Ministry of Industry and Technology, which plans to support and accelerate the development of various sectors with its goals in investment, production, exports, and employment, the aim is for investors to gain access to long-term investment loans under favorable conditions, contribute to the current account balance and price stability, and accelerate high-technology investments. The value-added sale of high-technology products is also among the expectations from the program. (YTAK) applications will begin on December 20.

It is among the public's expectations that the YTAK program will lighten the burden on producers going through difficult economic processes. Applications, which thousands of people are eagerly awaiting, will begin on Wednesday, December 20, 2023; however, it is of course important for the producer applying to be familiar with the application requirements in order to benefit from the support. Here are the details…

YTAK APPLICATION REQUIREMENTS

It is a program designed to support qualified investments. Considering the "technology and strategy score (TSP)" that companies will receive for their investment projects, YTAK will be allocated to projects with an investment amount of at least 1 billion liras. The interest rate for loans with a maximum maturity of 10 years will be determined in the range of 30 percent to 15 percent. A total limit of 300 billion liras is planned to be allocated over 3 years. Who can apply?

TECHNOLOGY AND STRATEGY SCORE IS IMPORTANT

In the program, which aims to support qualified investments, the "technology and strategy score" that companies applying and wishing to receive support will receive for their projects is important. YTAK support will be provided to projects where the investment amount is at least 1 billion liras. The interest rate for loans to be provided with a maximum maturity of 10 years will be determined in the range of 30 percent to 15 percent. On the other hand, while it is planned to allocate a total limit of 300 billion liras over 3 years, the requirement that your company be located in Turkey is also among the application conditions.

Applications for YTAK will be received online starting from December 20 via the electronic portal (https://yatirimkredisi.sanayi.gov.tr) to be implemented by the Ministry.

News Source: 12punto