6.25 Billion TL Loan Opportunity for Youth Entrepreneurs
Şimşek Evaluates New Support Package for Young Entrepreneurs
Minister Şimşek recently discussed the new support package for young entrepreneurs, which was developed in collaboration with the EBRD. This package aims to provide more opportunities for aspiring entrepreneurs to access financing under favorable conditions, utilizing the treasury-supported bail system effectively.
Young entrepreneurs under the age of 35 will be the primary beneficiaries of this support package. Through cooperation with the EBRD, the Ministry will provide collateral support to banks as part of a credit source, allowing for a Credit Guarantee Fund of 5 billion pounds to support 6.25 billion pounds of credit opportunities for young entrepreneurs.
The support package includes an upper limit of 85 million pounds per guarantee and a guarantee ratio of 80 percent. This initiative is expected to provide a significant boost for young entrepreneurs looking to kickstart their businesses and contribute to the economy.
With ongoing efforts to support entrepreneurs and promote economic growth, initiatives like this support package play a crucial role in nurturing a thriving ecosystem for young business owners. Şimşek emphasized the importance of such programs in empowering the next generation of entrepreneurs and fostering innovation and growth in the business sector.
