6.25 billion lira loan support for young entrepreneurs

Minister of Treasury and Finance Mehmet Şimşek announced a new loan package aimed at supporting young entrepreneurs. Thanks to the cooperation with the European Bank for Reconstruction and Development (EBRD), a loan facility of 6.25 billion lira will be provided against 5 billion lira in collateral.

Stating that the Treasury-backed guarantee system is being used effectively to facilitate entrepreneurs' access to finance, Şimşek said, "Through this support, it is aimed for young people to establish successful businesses, grow them, and access the necessary consultancy services."

ENTREPRENEURS UNDER 35 CAN BENEFIT

Company owners and managers under the age of 35 will be able to benefit from the support package. With the support to be provided through the Credit Guarantee Fund, entrepreneurs' access to finance will be facilitated.

Şimşek explained the details of the support package as follows:

Collateral upper limit: 85 million lira

Collateral rate: 80 percent

SUPPORT FOR ENTREPRENEURS WILL CONTINUE WITHIN THE SCOPE OF THE ECONOMIC PROGRAM

The Ministry of Treasury and Finance aims to increase support programs that encourage young entrepreneurs. It is stated that new financing models and incentives will be implemented in line with the economic program.

Emphasizing that the new support package offers an important opportunity for young entrepreneurs, Minister Şimşek stated that training and consultancy services will also be provided so that the loans contribute to sustainable business models.

News Source: 12punto