A 300,000 TL Solution for Those with Debt
Official titleDecision Amending the Decision on the Granting by Türkiye Halk Bankası Anonim Şirketince of Treasury Interest-Supported Investment and Operating Loans to Tradespeople and Artisans (Decision No.: 11648)
This Presidential Decision makes significant amendments to and extends the period of the Treasury interest-supported investment and operating loan program extended by Türkiye Halk Bankası to tradespeople and artisans. The Decision facilitates the conditions for tradespeople with tax or social security premium debts to obtain loans and allows such debts to be paid through loans.
Details of the Regulation
Through the Presidential Decision, Article 7 of the Decision on the Granting by Türkiye Halk Bankası Anonim Şirketi of Treasury Interest-Supported Investment and Operating Loans to Tradespeople and Artisans, as regulated in the previous Presidential Decision dated 16/1/2025 and numbered 9436, has been amended. The most fundamental amendment made is the extension of the program’s implementation period from 31/12/2026 to 31/12/2027. This extension enables tradespeople and artisans to benefit from this support for an additional year. Furthermore, whereas previously it was required to obtain a letter no later than 15 days beforehand documenting that there was no tax or social security premium debt, or that such debts had been restructured/installment-paid and were not in default, the new regulation has made it possible to extend the loan even where this requirement cannot be met. One of two routes then applies: either up to 25% of the loan (at most TRY 300,000 in total within a year) is first used to pay these debts, or the loan is granted with lower Treasury interest discounts (40% instead of 50%, 80% instead of 100%, 48% instead of 60%).
Questions You Might Have
- Until when has the interest-supported loan program been extended?
- The program has been extended until 31 December 2027.
- How can a tradesperson with tax or social security debt benefit from this loan?
- They may benefit from the loan provided that the debts are restructured/installment-paid and not in default, or that an amount corresponding to no more than 25% of the Treasury interest-supported loan, and at most 300.000 TL, is used to pay the relevant debts.
- What will the Treasury interest discount rate be for the amount of debt to be paid through the loan?
- A discount rate of 25% will be applied to the interest on the loan extended for the payment of the relevant debt, as provided by the Treasury.
- Who will be positively affected by this amendment?
- It will positively affect tradespeople and artisans throughout Türkiye who have tax or social security premium debts, facilitate their access to loans and ease their financial burdens.
Key Terms
- Hazine Faiz Destekli Kredi
- Financial support provided through the state’s (Treasury’s) coverage of part or all of the interest cost of loans extended to certain sectors or groups.
- Esnaf ve Sanatkârlar
- Persons who engage in small-scale production, trade or service activities and generally earn a living through their own labor, and the occupational group formed by these persons.
- Yatırım ve İşletme Kredisi
- A type of financing used by businesses to make new investments, such as purchasing machinery or establishing a facility, or to meet their day-to-day operational expenses, such as raw materials and personnel salaries.
- Borç Yapılandırması/Taksitlendirmesi
- The restructuring of debts that have matured or are difficult to pay, enabling the debtor to be provided with new payment schedules or easier payment at maturities.
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REGAS Commentary
This amendment provides considerable relief, particularly for tradespeople and artisans who have difficulty obtaining loans due to debts from previous periods. Tradespeople with debts may now also benefit from the Treasury-supported loan and may use part of the loan, up to 25% and no more than 300.000 TL, to close their existing debts. This will both ease the financial burden on tradespeople and provide significant support for them to continue their economic activities. The interest discount rates provided by the Treasury are also recalculated specifically for the portion of the loan used to pay debts, thereby reducing the cost of this process. The Decision, which is to be implemented by the Ministry of Treasury and Finance, aims to increase the resilience of small and medium-sized enterprises.