Tradesman Guarantee Cooperatives have been continuing their activities by mediating the loan applications of the tradesmen since its establishment. Simply entering between the bank and the shopkeepers and reducing the risk taken by the bank, Ensures that tradesmen can use low-interest loans and the bank reduces the risk to zero thanks to its guarantor.
Nevertheless, for this financing application, which it mediates, the mentioned IHCR unit must have a certain fund, otherwise, it does not have any equity to meet the unpaid debts and the system will be unsustainable. For this reason, there is an upper limit of the tradesmen bail loans provided.
Tradesman Bail Loans and Maximum Bail Limits
There are 9 different financings provided by the Tradesman Bail Cooperative and the credit upper limit determined for each was regulated by a special regulation. Therefore applicants before forwarding the loan will be used to check whether an amendment to an upper limit of Turkey Tradesmen and Craftsmen Credit and Guarantee Cooperative is necessary to examine the complaint.
This financing, which is provided only to businesses that are members of the Tradesmen and Craftsmen Loan Guarantee Cooperative, was created specifically to be allocated to enterprises that need raw materials for the commercial activity it will undertake. For financing that can be paid in installments with the desired maturity between 1 and 5 years, ESKK is guarantor up to 150 thousand USD at most.
Monthly Equal Installment Business Loan
For the monthly loan with equal installments, which can be matured between 12 and 24 months and created to meet short-term needs, OLS is up to a maximum of 150 thousand USD.
The facility loan, which has been developed to finance the fixtures that the EKK member companies are planning to purchase, can be extended for a minimum of 2 years and a maximum of 5 years. EKK grants a maximum of 150 thousand USD of bail to businesses wishing to take advantage of this financing.
Employment Support Loan
Employment support credit, which was developed to provide the economy with new employment areas and to provide the financing needed by entrepreneurs to enable more people to work in their businesses, can also be used for the purchase of old technology machines if the OLS officials approve. The loan in question can be paid in installments for a maximum of 3 years, with the first year without payment. EKK guarantees up to 150 thousand USD for this loan.
Cooperative Export Credit
Up to 150 thousand USD of guarantee is provided for the cooperative export loan developed to meet the raw material and technological needs of enterprises operating in the manufacturing sector and working on export. The loan can be termed for a maximum of 4 years, with the first year without payment.
A maximum of 150 thousand USD of bail is provided for the discount loan that can be used by discounting very short-term bills. Financing can be used with a maturity of at least 1 and at most 9 months.
Truck renewal, Vehicle Repair, and Vehicle Acquisition Loan
Operators wishing to purchase cars, vans, and minibusses up to 3 years old, and vehicles up to 5 years old are provided with a bail of up to 150 thousand USD with a 2-5 year maturity.
Tradesmen who need financing to repair their vehicles are provided with a bail of up to 150 thousand USD with a maturity of 1-9 months.
In case of a 9 percent down payment, up to 150 thousand USD can be provided for the renewal of the vans older than 10 years old.