These are loans with interest rates and maturity dates that are determined on the loan utilization date. Principal amount and the accrued interest are collected on the date of maturity.
Spot Loan with Early Settlement Option: It is a type of spot loan that can be partially or completely settled before maturity date. The principal, interest, and other charges are collected on the settlement date.
These are loans without a specific maturity date, and the interest rates of which vary with the developments in money markets. Interest is collected at the end of each quarterly period. The principal can be partially or completely settled either by foreclosure or by cash payments. This allows the companies to reduce their interest payments to minimum.
This loan is based on encashing of commercial notes issued with respect to commercial transactions but have yet become due for payment and; is granted by way of paying the amount remaining after deduction of the interest calculated until maturity date, the commission, any statutory charges like the BITT. It is used to meet the short-term cash needs of the companies with a high volume of notes and cheques.
Installment loans are loans with fixed interest rates that are granted to meet operating capital requirements and repaid in equal or variable installments in accordance with your cash flow.
Foreign Currency Loans
They are the loans that are made available to the firms with foreign currency revenue, with the purpose of financing exports or sales and deliveries that pass for export as well as foreign currency generating activities. It requires making export commitment, and the maximum total amount of the loans that can be received from all financial institutions is limited to the amount of the foreign currency revenues for the last three years. If the export commitment is fulfilled, the loan will be exempt from tax, dues, charges and fund. The statutory period within which a firm has to fulfill its export commitment is 24 months, and after such period BSMV (Banking and Insurance Transaction Tax) exemption will not apply.
The requirement for the firms that do not have foreign currency revenue is that their total loan risk balance with all financial institutions should be USD 15 million or more. The firms that meet this requirement can receive foreign currency loans without having to have any foreign currency revenue. Tax, due, charge and fund exemption will not apply.
More detailed information is available on www.tcmb.gov.tr.
Project Financing is a long-term loan, repayments of which will be made according to the future cashflow to be generated by investments over a certain size and intended for a specific purpose. Project financing credits can be used to fund a project that has not yet reached the investment phase as well as for funding an investment for capacity increase, and for needs like renovation.
Energy, Real Estate & Construction, Company and Asset Acquisition, Infrastructure Projects, Mining and Tourism Industries are among the top sectors for which project financing is provided and; all industries are considered on project by project basis.
A project model is created along with the cash flow drawn up upon detailed financial, economic, technical, and legal examination and assessment of the project. The guarantees, the term, the capital, pricing and the loan conditions of the project are determined according to the model and the concept of the project.