The severance pay loan application to be delivered to the employer for EYT started today

Requests for the Treasury-supported EYT Support Package, commissioned by the Credit Guarantee Fund (KGF) in order to meet the financing needs of SMEs and non-SMEs that will pay severance payments for their employees who will retire in the field of regulation for the elderly (EYT), began today.

According to the information received from the Ministry of Finance, with the EYT Support Package backed by the Treasury commissioned by the KGF, it is intended to satisfy the financing needs derived from the severance payments of SMEs and non-SMEs that will pay the indemnities paid for retirement to its employees within the framework of Law No. 7438.

Within the scope of the application, which began today, companies will be able to apply to public and private banks.

The total volume of financial support to be provided was determined at TL 50 billion.

IT WILL BE DEPOSITED TO THE ACCOUNT OF THE EMPLOYEES

Within the scope of the package, loans of up to TL 13.3 million will be provided for SMEs and TL 28.5 million for non-SMEs.

While the guarantee rate is set at 75 percent for SMEs and 70 percent for non-SMEs, it will be granted with a 36-month maturity, including a maximum 6-month grace period.

The interest rate/profit sharing of the loan to be extended under the EYT support package will be applied as TLREF plus 200 basis points for loans with a maturity of up to 24 months.

Within the scope of the package, the interest-to-profit ratio for loans with a maturity of more than 24 months will be TLREF plus 300 basis points.

These interest rates will be valid for loans for severance pay for 1 to 10 employees.

For disbursements that exceed this number of employees, the interest rate/profit sharing will be determined by the bank. Said payments will be deposited directly into the accounts of the employees who will retire under Law No. 7438 by the lender. (AA)