Credit for small and medium-sized businesses in Northern Cyprus.
To overcome the economic crisis in the country associated with the spread of coronavirus infection, the Ministry of Economy and Energy together with the Central Guarantee Loans Cooperative (T.E.S.K.O.M.B.) has developed a small business credit support program.
3.5 million Turkish lira is planned to be issued in the form of soft loans to small and medium-sized enterprises (small traders, artisans, and service enterprises). The minimum loan amount is 25,000 TL, the maximum is 225,000 TL. The interest rate on the loan is 4.5% per annum.
Individual options and small and medium enterprises will be offered 3 options.
PACK 1
Loan amount: 25,000 TL + credit card with a limit of 25,000 TL
Credit interest: 4.5% per annum
Loan term: 36 months
Warranty: not required
Credit deferral: first 3 months
PACK 2
Loan amount: 100,000 TL
Credit interest: 4.5% per annum
Loan term: 60 months
Warranties: 1 guarantor
Credit deferral: first 3 months
PACK 3
Loan amount: 225.000 TL
Credit interest: 4.5% per annum
Loan term: 60 months
Warranty: Real Estate Pledge
Credit deferral: first 3 months
Credit for small and medium-sized businesses in Northern Cyprus. Details and application deadlines, a list of required documents will be published later. Follow our news.
Coronavirus in Northern Cyprus: See the mode of operation of the Veles Property quarantine offices here.
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