Turkey Boosts Financing Support for Tradespeople and Artisans

Turkey's Trade Minister Ömer Bolat has detailed new financing support measures designed to bolster tradespeople and artisans. Bolat announced via his social media account that the government, under President Recep Tayyip Erdoğan's leadership, is committed to supporting production and labor. "We continue to resolutely take steps that will strengthen our tradespeople and artisans," Bolat stated. He highlighted that the business loan limit has been increased from 1 million Turkish Lira to 1.5 million Turkish Lira. Additionally, investment loan limits for acquiring workplaces, vehicles, and machinery have been raised from 2.5 million to 3.5 million Turkish Lira. The repayment terms for business loans have been extended to four years. For workplace acquisitions, the loan term is now six years, up from five. Loans for vehicles and machinery will have a five-year term, an increase from four years. Bolat expressed his hope that these new supports will facilitate access to finance for tradespeople and artisans, thereby making significant contributions to production, employment, and the national economy. He concluded by wishing these measures to be beneficial for all tradespeople and artisans in Turkey.

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We continue to resolutely take steps that will strengthen our tradespeople and artisans.