SMEs face disappointment with 'breath' loan

The 25 billion TL 'breath' loan offered by the Union of Chambers and Commodity Exchanges of Turkey (TOBB) for small and medium-sized enterprises (SMEs) has failed to meet the expectations of many business people. Members of the Istanbul Chamber of Commerce (ITO) brought the issue of being unable to access the credit to the agenda during the July assembly meeting. Rouzben Gergeri, a member of the ITO Restaurant and Food and Beverage Services Professional Committee, stated, "The budget for the loan is very narrow. Banks do not know how to distribute the limited budget."

Yılmaz Polat, a member of the ITO Footwear and Footwear Sub-Industry Professional Committee, noted that there is no one in the sector who has applied for and received the loan. Musa Evin, a member of the Leather, Fur, and Saddlery Professional Committee, also remarked, "Tradespeople have been left breathless by the 'breath' loan. The process ended before it even began."

Hacı Demir, a member of the ITO Financial Consultancy Professional Committee, stated that they have received numerous questions regarding the documents required for the loan application. It was announced that the ITO has issued activity certificates to 5,818 members, and these members have requested a total of 14.5 billion TL in loans. However, it was stated that the 'breath' loan, which has a total credit limit of 25 billion TL, is insufficient to meet these demands. ITO members are demanding an increase in credit limits.

News Source: 12punto