Turkey, Financial Structuring Of Small Scale Loans

Following the amendments made in the Financial Restructuring Framework Agreements, announced with a public declaration dated 16.07.2021 by the Banks Association of Turkey, the process of structuring the loans of small-scale companies whose loan debts are below 100 million TL has been determined as follows;

Aim;

Pursuant to the transitional provision n. 32 of the Banking Law No. 5411 and the relevant legislation; The primary aim is to facilitate the repayment process of the commercial loan debtors who are experiencing temporary complications as well as those who are likely to encounter problems regarding the fulfillment of their debts to the banks which are in the position of the Creditor Organisations, and to promote their further contribution to employment through measures that will be taken in compliance with the creditors and other Creditor Organisations in the form of issuing protocols.