Credit Guarantee Fund Supported Loan at Asbank
All the SMEs, tradesmen and artisans, female entrepreneurs, young entrepreneurs, farmers and agricultural businesses feel relieved with Asbank’s Credit Guarantee Fund (CGF) supported loans.
AIM OF THE FUND
To provide real and/or legal persons to use bank loans in the financing of their investments and businesses with the guarantee provided under the determined conditions.
AMOUNT OF GUARANTEE THAT THE CREDIT GUARANTEE FUND CAN PROVIDE
• Amount of guarantee to be provided by the Fund for a loan that a real and/or legal person will use may not exceed 5% of the Fund’s resources.
• Fund may provide a guarantee maximum up to 60% of the actual loan amount and up to 90% within the scope of Acts of God.
• For each loan guarantee to be provided by the CGF;
Lower limit 50.000 TL
Upper limit 1.000.000 TL
COST OF GUARANTEE
• Fixed Checkover Fee: 100 TL charged for one time with the application.
• Premium: Bank pays a premium of 0,5% (five over thousand) of the amount of guarantee to the CGF before signing the guarantee agreement.
Bank evaluates the loan applications according to the rules and procedures as applied to the other loans and for the applications considered as repayable, applies to the CGF on behalf of the real and/or legal person with “Guarantee Request Form” and “Guarantee Application Form” together with the application file containing the documents set out in this Communique in order to receive guarantee from CGF following the approval of the board.