Details of the 2021 Nefes (Breather) Loan Application Have Been Announced

The details of the 2021 Nefes Loan Package, which will be implemented to mitigate the economic impacts of the coronavirus pandemic, have been announced. Announced by the Ministry of Treasury and Finance and President Recep Tayyip Erdoğan, the Package will become active as of June 1.

Who can benefit from the Nefes Loan Package?

Through the Nefes Loan Package, working capital financing opportunities will be provided to members of the chambers of commerce, shipping, industry, commerce and industry, or the commodity exchange that had an annual turnover of less than TRY 10 million and a 25% loss in their turnover in 2020 compared to 2019. SMEs with a turnover below TRY 1 million in 2020 will be able to receive a maximum loan of TRY 50 thousand, and SMEs with a turnover between TRY 1-10 million will be able to receive a maximum loan of TRY 200 thousand.

6-month grace period

The 2021 Nefes Loan application will provide businesses with a six-month grace period, and loan payments will be made in 12 equal instalments. Treasury-backed Credit Guarantee Fund (KGF) guarantee will be provided, and the annual interest rate will be 17.5%.

The names of the banks participating in the credit package were also included in the Ministry's announcement. These banks were listed as TC Ziraat Bankası AŞ, Türkiye Vakıflar Bankası TAO, Türkiye Halk Bankası AŞ, Türkiye İş Bankası AŞ, T. Garanti Bankası AŞ, Yapı ve Kredi AŞ, Akbank T.A.Ş., Denizbank AŞ, Ziraat Katılım Bankası AŞ, and Vakıf Katılım Bankası AŞ.