Application Process for KOSGEB Interest-Free Loan has Started

The application process for KOSGEB interest-free loan has started. The Small and Medium Enterprises Development and Support Administration (KOSGEB) has opened the application for the new loan program.

While full lockdown measures continue to be implemented due to the coronavirus (Covid-19) epidemic, the application process for KOSGEB interest-free loans in the latest support package announced by President Recep Tayyip Erdoğan has started. KOSGEB President Hasan Basri Kurt, who was a guest at the Finance Center program in Bloomberg HT, stated that the pandemic effect was felt very much especially in micro and small-scale enterprises. Stating that the KOSGEB 3-year non-repayment interest-free loan package, which started on May 3, will be given to micro and small businesses with a decrease in their turnover, Kurt said: "We have created a loan package from different funding sources, we will give this loan directly to businesses, they will not have much relations with banks. The pandemic will end eventually and hopefully we will have better numbers in manufacturing. In particular, we will provide a support package for manufacturing and technology start-ups with 3 installments on a micro scale, totaling 30 thousand TL from 10,000 TL, and a total of 75 thousand TL from 25 thousand TL on small scales. This package is a 3-year grace period, the next 2 years will be paid and will be realized with zero interest. Our basic condition is that companies are affected by the pandemic but retain employment. "

Applications will continue until May 21

Stating that the focus is on the manufacturing sector, Kurt noted that the applications will continue until May 21. Kurt stated that they will give loans as of June 15th, said, "Especially the start-ups established after 2017 were very exposed to the effects of the pandemic, we will support them."