Loan package welcomed by tradesmen unions

A loan package announced by President Recep Tayyip Erdoğan has been welcomed by the Confederation of Turkish Tradesmen and Craftsmen (TESK) and the Central Union of Turkish Tradesmen and Craftsmen Credit and Bail Cooperatives Unions (TESKOMB).

According to the plan, the state lenders will provide a total of 100 billion Turkish Liras ($5.4 billion) to the tradesmen at an annual interest rate of 7.5 percent to be paid in back in 60 months.

“The 100 billion loan is an important amount, especially for the tradesmen who have debts but cannot get loans,” TESK President Bendevi Palandöken said.

“Now, our eyes are on the good news of the retail law that will be brought to the parliament, and the limiting of our workplace rent increases to 25 percent as in residences, and the one-time zeroing of the ÖTV Special Consumption Tax in commercial vehicles.”

Palandöken added that the loan package will help the tradesmen have a sigh of relief.

“Around 1.3 million tradesmen benefited from the previous trades package, and we expect this number to increase with the new additions,” he said.

“Gasoline, diesel, and LPG have become very expensive; a one-time excise duty on electric commercial vehicles will reduce these costs, so it will have a positive impact on the public’s transportation costs,” Palandöken added.

“In addition, the retail law will come to parliament this month. We repeated our demands for changing the opening and closing hours of the supermarkets, and stopping the sale of furniture, telephones, electronic goods, stationery and bakery products.Our president is also on this issue.”

On the other hand, TESKOMB President Abdülkadir Akgül said that the credit limits have increased, and 100 billion resources have been created while banks do not have the resources to lend.

Stating that the market loan interest rate is 9.5 and that in the tradesmen package, loans will be given at 2 points lower with 7.5 percent interest, Akgül said that the tradesmen mostly complain about the low limit, and that has been increased from 350,000 liras to 500,000 liras.

“Around 1.3 million tradesmen will benefit from the loan, not to buy houses and cars, but to put new goods on their shelves,” he said.

All business owners registered with chambers of tradesmen and young entrepreneurs who want to become tradesmen will benefit from the loan package.

They will be able to use loans up to 1.5 million liras, with a maturity of 10 years and an annual interest of 7.5 percent. Those who want to buy a new vehicle will also be given a loan of up to 1.5 million liras, with a term of seven years, with an annual interest of 7.5 percent. Loans ranging from 50,000 liras to 500,000 liras, with zero interest, with a term of five years, will be provided to the tradesmen, who are operating in traditional professions.


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