New loans for SMEs from TOBB


The Turkish Union of Chambers and Commodities Exchanges (TOBB) has announced it will lend YTL 100m (Ђ55m) to small- and medium-sized enterprises (SMEs) through Halk Bank.

TOBB Chairman Rifat Hisarcyklyoethlu and Halk Bank general manager Hasan Cebeci signed the protocol outlining the loan programme in Ankara yesterday. The loans carry a term of one year.

Hisarcyklyoethlu said this partnership combining TOBB's business expertise and Halk Bank's experience with SMEs would yield tremendous results for everyone involved.

Halk Bank was already assisting SMEs with its enterprise loans totalling YTL 150m last year. The loans had rates of 16.9 per cent and were disbursed to more than 4,000 entrepreneurs. Of this total, 73 per cent was distributed in the manufacturing sector, 20 per cent in services, 5 per cent in agriculture and 2 per cent in mining.



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