Refinancing Guarantee Program Has Been Launched.
Within the scope of the program, existing loans extended at high interest rates may be refinanced under the guarantee of KOSGEB and the Credit Guarantee Fund (KGF) and transferred to more sustainable terms. Loans with an outstanding principal balance of up to TRY 12.5 million and with payment delays not exceeding 30 days may be included in refinancing under the following conditions:
- Maturity of up to 48 months,
- Annual cost of 36%,
- At least 6 months of grace period for principal repayment
and may be taken under the refinancing framework.
Early Intervention, Financial Stability
The program is designed with an early intervention approach, without waiting for loans to fall into the non-performing loan category. Since the transactions will be evaluated as refinancing rather than restructuring, SMEs’ credit ratings and risk profiles will not be adversely affected. Thus, uninterrupted continuation of production, employment, and investment activities is aimed.
Strong Risk Sharing with KGF and KOSGEB
Refinancing loans will be guaranteed under the KGF–KOSGEB risk-sharing model.
- Maximum of TRY 10 million per enterprise,
- Total guarantee limit of TRY 30 billion,
- Guarantee ratio of 80% will be applied to loans.
This structure aims both to preserve asset quality within the banking system and to facilitate SMEs’ access to finance. Enterprises that already have KGF-guaranteed loans will also be able to benefit from the program.
Who Can Benefit?
The following SMEs may apply for the program:
- Those with positive operating profit,
- Those with payment delays in loan repayments not exceeding 30 days,
- Those operating in the manufacturing, telecommunications, software, IT infrastructure, data services, and R&D sectors.
Tobacco products and alcoholic beverage manufacturing are excluded from the scope of the program.
Extensive Banking Network
Loan disbursements under the program will be carried out through Ziraat Bankası, VakıfBank, Halkbank, İş Bankası, Garanti BBVA, Akbank, Yapı Kredi, QNB Bank, and DenizBank.
Contribution to the Economy
Through the program, the following are targeted:
- Reducing SMEs’ credit burden,
- Limiting the formation of non-performing loans,
- Preserving asset quality in the banking sector,
- Sustaining production, exports, and employment.
Application and Information
Under the Refinancing Guarantee Program, the final loan utilization date has been set as June 30, 2026.
For detailed information and applications, SMEs may contact the branches of banks participating in the program.
