ISTANBUL, June 2026 — Turkish manufacturers and small businesses are expected to receive much-needed financial relief as the Union of Chambers and Commodity Exchanges of Türkiye (TOBB) relaunches its Nefes (Breath) Loan Program, aimed at easing access to credit for small and medium-sized enterprises (SMEs).
The program comes at a time when many industrial companies are struggling with high borrowing costs, tight liquidity conditions, and limited access to working-capital financing. Business representatives say that financing difficulties have become one of the most significant challenges facing the real sector.
Under the new scheme, eligible companies will be able to borrow up to 3 million Turkish lira, with loan maturities extending up to 48 months, including a six-month grace period on principal repayments. Interest rates have been set at 36% annually for loans up to 24 months and 34% annually for longer maturities.
TOBB, working together with the Credit Guarantee Fund (KGF) and participating banks, will initially make 25 billion lira available through the program. Authorities aim to expand the total lending volume to 100 billion lira later this year through additional funding allocations.
Business leaders welcomed the move, noting that easier access to financing could help companies maintain production, employment, investment, and export activity. However, many manufacturers argue that broader and more permanent solutions are still needed to address structural financing challenges in the Turkish economy.
The loans will be available through major Turkish banks, and applications opened on June 8, 2026, for businesses that are members of chambers and commodity exchanges affiliated with TOBB.
Why it matters: Analysts believe the renewed Nefes Loan Program could provide short-term liquidity support to thousands of SMEs, helping firms manage cash-flow pressures and sustain operations during a period of elevated financing costs. However, the initiative is generally viewed as a temporary relief measure rather than a complete solution to the sector’s broader funding needs.
Source: Bloomberght/ Prepared by: İlayda Gök