SMEs enthusiastic about interest-free loans

The business world has welcomed Minister of Industry and Trade Zafer Çaglayan's announcement of a plan to grant interest-free loans of up to TRY 25,000 (EUR13k) to SMEs.

28% increase in SME loans

Four years ago the share of loans taken by SME's was around 7 percent of all loans extended by Fortis Bank. 'The situation has now changed dramatically' says Metin Karabiber, assistant general manager of Fortis Bank's department for SMEs.

Small enterprise means big business this summer

The European Union has launched the second phase of its Small Enterprise Loan Program (SELP), which provides loans to support the smallest of SMEs. Enterprises with fewer than 50 employees and less than 1m in assets may directly apply to bank branches located in 49 Turkish provinces.