The European Investment Fund (EIF) and Finansbank have signed two guarantee agreements totalling TRY 255m (approximately €122) to provide enhanced access to finance for businesses across the country.
The deals will support SMEs in accessing to over TRY 430m (€206m) of medium to long term investment loans guaranteed under the SME Guarantee Facility (SMEG), of the Competitiveness and Innovation Programme (CIP).
In order to implement the agreements, Finansbank is launching two new facilities:
– a “Machinery and Technology Support Package“, which will enable Turkish entrepreneurs to acquire necessary machinery and technology essential for business growth.
– a “New Companies Support Package“, which will target micro-enterprises in their start-up phase.
Finansbank currently serves more than 400.000 SME customers.