A new Women Entrepreneur Support Package from Garanti BBVA SME Banking in Turkey is available for women who contribute to the Turkish economy. That is why Garanti BBVA proposes its future participants increase their production capacity in line with their cash flow or improve their service quality.
Loans by Garanti BBVA:
- Women Entrepreneur Support Loans (all participants can take out a Women Entrepreneur Support Loan with terms up to 60 months at a special exclusive to the women entrepreneurs).
- Business Premises Loan (instead of renting, they can own their production premises by taking out a TL or foreign currency indexed business premises loan with terms up to 96 months).
- Auto Loan (they can take out a TL or foreign currency indexed auto loan with terms of up to 60 months to purchase the most suitable vehicle for their business).
- Cash Loans (throughout the production period, women entrepreneurs can take advantage of bank`s revolving, spot or installment loan opportunities for their working capital needs. In revolving loans, at the end of the period, the participants only pay interest for the duration that they have remained indebted. In spot loans, they pay off their debt when they collect the receivables and on a date that they determine. If the exact date of their collection is not certain, women entrepreneurs can use a spot loan with an early closing option. While they can take out these loans against collateral or lien, they can also convey the receivables, use the checks and bills they were given for the receivables.
If participants engage in exports, they can take out their revolving and spot cash loans in the same currency as their export receivables and don’t get affected by the changes in the exchange rates if their expenses are in TL and their earnings are in USD/Euro. - SME Project Finance Loans (SME Project Finance Loan is a type of loan developed jointly by Garanti BBVA and Credit Guarantee Fund (CGF) and offered based on the investment’s return and cash flow generation periods. The loan features a 6-month grace period and can be taken out with terms up to 7 years depending on the return and cash flow generation periods of the investment. The maximum loan amount is USD 30.000. The loan is offered with a special annual commission rate exclusive to women entrepreneurs. SMEs who can present suitable feasibility analyses for their investments, have the potential to generate export/foreign currency earnings with no sectoral limitations, and are capable of competing in international markets can take advantage of the SME Project Finance Loans. The SME Project Finance Loans are offered in collaboration with the Credit Guarantee Fund, an institution specialized in the assessment of projects and limited to 80% of the loan limit assigned by Garanti BBVA. The maturity of the loan is determined in line with the company’s cash flow, and in addition to its income and expenditures, its need for additional working capital is taken into consideration to create a payment plan that suits the company’s cash flow. Another important feature of the SME Project Finance Loans is the fixed interest rate in TL or foreign currency that allows SMEs to make plans knowing the amount of payment they will have to make beforehand.
Services by Garanti BBVA:
- Overdraft Account (an overdraft account is a deposit account with an overdraft feature that women entrepreneurs can use to pay their bills and withdraw cash advances. The interest of the loans they use over one month is calculated based on the duration it is used and debited from their account the following month. Additionally, when they deposit money into their account, the debt is automatically paid off. Their overdraft account is always available for their payments, even if they don’t have money in the deposit account.
- POS (they can take advantage of the POS terminals offered in the Women Entrepreneur Support Package to regularly and easily keep track of their cash flow and increase their sales. With a POS terminal, they can increase their sales as a Bonus Merchant Partner. With a Virtual POS, they can collect payment for online sales. Additionally, they can take advantage of commission and blockage rates suitable for their sector, and by putting up their POS receivables as collateral, they can use overdraft or take out a loan at more favorable interest rates.
- Company Credit Card and Bonus Business (they can keep the purchases that they and their employees will make on behalf of the company with a company credit card that participants can assign separate and independent limits for each user. If they select Bonus Business as their company credit card, they can earn a bonus on the company expenditures, and if they select Shop&Miles, they can earn miles.
- Letters of Guarantee (by placing a request through their branch, they can pick up the TL or foreign currency letters of guarantee that the company needs from any Garanti BBVA Branch. No matter what the letter is for, purchase of goods, customs transactions, VAT, tender, Eximbank, security deposits, rental deposit, and whether it is temporary or permanent, participants can pick up their letters of guarantee from any of our widespread network of branches and avoid any interruptions in their production.
- Foreign Trade Services (they can perform transactions regarding their incoming or outgoing money transfers quickly and securely through Garanti BBVA’s strong network of branches including the ones at the free-zone and extensive agent connections. They can buy and sell foreign currency through our branches or alternative delivery channels (Garanti BBVA ATM, Inıternet Banking, or Garanti BBVA Customer Communication Center) at Garanti BBVA’s competitive exchange rates.
- SME Pension Plan (with Garanti BBVA exclusive pension plan for SMEs, the SME Pension Plan, all women entrepreneurs can enroll in the private pension system and secure their and their families’ future. If they make their contribution payments with Bonus Card, they can earn a 1% bonus and transfer their accumulated bonus to the pension account. If participants select the Flexi Pension Package, they can earn a 4% bonus on every contribution payment they make and transfer their accumulated bonus to the pension account. If they make their contribution payments with the Shop&Miles card, they earn 1 extra mile for each TL 6.
Other Services by Garanti BBVA:
- Factoring-leasing, with the cooperation of Garanti Factoring and Garanti Leasing.
- Checkbook in TL or foreign currency issued in the company’s name.
- Standing payments and automatic bill payments.
- Check integration and Logo Business, compatible with an accounting system.
- Tax, SSK collections, and online Bağ-Kur payments.
- Foreign exchange transfers, foreign exchange buy/sell transactions.
- Collateral support through collaboration with the Credit Guarantee Fund.
Source: Information by Garanti BBVA
