Union of Chambers and Commodity Exchanges of Turkey

The Breath Credits, created by combining all the resources of TOBB and 365 chambers, will require no payments in 2020. Payments will be made in equal monthly installments of 7.5% interest in 2021 with an annual interest rate of 7.5%. The upper limit in Credit varies between 50,000 and 100,000 TRY according to the provinces.

The TOBB Breath Credit 2020 project is expected to reach a loan volume of 6.25 billion TRY. TOBB Breath Credits will be brokered by Denizbank and Credit Guarantee Fund (KGF) will vouch for loans with Treasury support.

The project, for which President Recep Tayyip Erdoğan has previously used the phrase 'innovation in financing', had previously created an important financial resource for TOBB member SMEs.

- Hisarcıklıoğlu: “We viewed this effort as a mobilization”

Speaking at the TOBB Breath Credit 2020's introductory meeting, TOBB President M. Rifat Hisarcıklıoğlu, stating that they are facing an unprecedented pandemic, pointed to the importance of the measures taken by the state and in regards to the economy. Hisarcıklıoğlu said: “While we are fighting through this pandemic with minimal loss life in the field of health, we need to enter the post-Covid period by preserving our companies. Because the post-epidemic global economy will be something new. The way business is conducted will change; competition will escalate. With this awareness, we view this as a mobilization, and we've been working day and night since the first day of the outbreak. In financing, which is the biggest problem of our businesses, as TOBB and 365 Chambers and Commodity Exchanges, we put our body under the stone, not our hand. We give all our resources to our members' command. In order to meet the financing requirement, we are re-commissioning the TOBB Breath Credit as of today. Our small businesses with a turnover of less than 25 million TRY will be able to apply to a Denizbank branch with the membership certificate they receive from the Chambers and Exchanges they are members of from today. They don't have to go to the chambers – commodity exchanges. They will also be able to obtain their documents as e-documents from the systems of TOBB or chamber - commodity exchanges by taking advantage of the benefits of the digital economy.”

Hisarcıklıoğlu stated that they expect public banks to participate in the project after 2 weeks, “Thanks to these supports, we will have provided over 6 billion TRY of credit opportunities to our small businesses in 2 months. The interest of TOBB Breath Credit will be 7.50 percent annually. A member of our member will be able to use a maximum loan of 100,000 liras. This amount could range from 50,000 to 100,000 according to the provinces. What matters to us is that there will be no principal or interest payments in 2020. Our member who receives the loan will not need to think about it in 2020. They will repay the loan in 12 equal installments in 2021. 80% of the loan will be covered by Treasury-backed KGF bail. With this project, hopefully we will give respite to our small businesses, which are the pioneers of employment and production.”

- Denizbank General Manager Hakan Ateş

DenizBank General Manager Hakan Ateş said in his assessment of Breath Credit, which was implemented under the leadership of TOBB, they would not close the umbrella in rainy weather and were proud to stand with SMEs once again in 2020.

Ateş said: “Our SMEs voluntarily closed their shutters, making great sacrifices for our country during this sensitive period when the fight against Coronavirus peaked. Many stalls, shops, factories have been unable to operate for a long time. They did their part, and now we are the ones who have earned their bread with what they produce. We must fulfill our responsibility. With the support of TOBB and KGF by taking the important initiative again, we are the bank that implements TOBB Breath Credit, which has an annual interest rate of 7.5 percent and its upper limit ranges from 50,000 and 100,000 TL.”

Noting that they participated in the Breath Credit Project for the first time in 2017 as a bank, Hakan Ateş said, “When the first Breath Project, which gave low interest opportunities to SMEs, came before us, we took our place as the only private bank without hesitation. We used credit for this revolutionary effort by putting our hands under the stone. In 2018, we were reunited with the possibility of a monthly loan of 0.99 percent to breathe into SMEs.”

- How can you apply for Breath Credit?

As of Monday, April 27^th, businesses with a turnover of less than 25 million TRY, which are members of chambers and exchanges connected to TOBB, will be able to apply for credit through Denizbank unconditionally by obtaining an operating certificate from the chambers and exchanges they are members of. The activity certificate required for the application will be available online from all chambers and exchanges connected to TOBB.