Streamlined Financing for Exporters through Term-Free Export Credit Package
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A groundbreaking stride awaits Türkiye's exporters as they are introduced to the Term-Free Export Credit Package, a collaborative effort uniting eleven esteemed banks. This innovative framework offers exporters the advantage of cost-efficient export credits, extending up to an impressive threshold of $5 million or 100 million TL. The loan tenure begins with a 12-month period, with the remarkable option for extension up to a maximum of 36 months available when companies choose to channel their export receivables to the contracted banks, thus optimizing their financial leverage. At the forefront of this pioneering effort stand the respected Türkiye Export Assembly (TIM) and a consortium of esteemed financial institutions, including Ziraat Bankasi, Vakıfbank, Halkbank, İş Bankasi, Garanti BBVA, Akbank, Yapı Kredi Bankasi, QNB Finansbank, Denizbank, TEB, and Odeabank. Together, they orchestrate this dynamic credit package, underscoring the export sector's pivotal role in Türkiye's economic vitality. Within the ambit of the "Term-Free Export Credit Package," exporters are poised to access a range of cost-effective export credit options, capped at an impressive $5 million or TL 100 million. Notably, member companies of the Union stand to unlock extended loan maturities by directing their export turnovers towards the contracted banks, a strategic alignment that fuels mutual growth. Amidst a realm of diverse financial pathways, enterprises are empowered to chart their course by selecting between the revolving and installment credit alternatives. Under the banner of revolving credit, the credit tenure, commencing at 12 months, stretches its boundaries to a maximum of 36 months. This expansion materializes when enterprises judiciously redirect export receivables to endorsed banks, aligning with their sanctioned credit limits. In tandem, this novel scheme seeks to cultivate an uninterrupted flow of resources, bolstering exporters' sustainability. For those favoring an installment credit approach, a compelling window awaits with a maximum maturity period of 24 months. In adherence to legal obligations, across all credit variants, export commitments culminate within a 24-month timeframe. TIM CHAIRMAN ÇAKAR: EMPOWERING PROSPERITY AND FOSTERING GROWTH In a momentous occasion marked by the signing ceremony of the Term-Free Export Credit Package between TIM and a consortium of 11 banks, Alpaslan Çakar, Chairman of the Banks Association of Türkiye (TBB) and CEO of Ziraat Bankasi, took the podium and shared his resounding sentiments: "Today, we stand united with a profound awareness of investing in our nation's future through the protocol forged with the Türkiye Exporters Assembly (TIM). As the dynamics of the economy and trade evolve at a swift pace, our concerted effort, in collaboration with our member banks and the Türkiye Exporters Assembly (TIM), is to bolster our exporters with renewed financial support.
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