COSME - Competitiveness of Enterprises and Small and Medium-sized Enterprises 

Product Description

COSME aims to make it easier for small and medium-sized enterprises (SMEs) to access finance in all phases of their lifecycle – creation, expansion, or business transfer. COSME is the EU programme for the Competitiveness of Enterprises and Small and Medium-sized Enterprises running from 2014 - 2020 with a planned budget of EUR 2.3 billion.

On 26 February 2019, the Protocol was signed within the scope of the COSME Program conducted through the European Investment Fund in order to increase the Competitiveness of SMEs.

Targeted loan amount:  TRY 2,875 billion

EIF Counterguarantee: TRY 126,5 million

Project sources: 40% EIF counter-guarantee, 40% KGF guarantee, 20% Banks

Targeted guarantee amount: TRY 2.3 billion

Application period: 2 years

Cap rate: 10 %

Source of the Guarantee

European Investment Fund (EIF)

Related Financial Institutions / Corporations

Akbank T.A.Ş, T.Garanti Bankası A.Ş., Türkiye İş Bankası A.Ş., Türk Ekonomi Bankası A.Ş.,  Vakıf Katılım Bankası A.Ş., Alternatif Bank A.Ş., T. Halk Bankası A.Ş.,  QNB Finansbank A.Ş., Türkiye Vakıflar Bankası T.A.O., Denizbank A.Ş., Şekerbank T.A.Ş., T.C. Ziraat Bankası A.Ş., Yapı ve Kredi Bankası A.Ş., Ziraat Katılım Bankası A.Ş.

Product Maturity

Min. 36, max. 60 months, including an optional 12 months of grace period.

Guarantee Limit

The limit per SME is TRY 1.000.000, while the applications up to TRY 500.000 will be processed under PGS.

Maximum Guarantee Rate

% 80

Fee and Commission

Guarantee commission rate is 1.5%. (annually)

Application Conditions

Beneficiaries are required to be one of the individual proprietorships or legal entity businesses established in accordance with the laws of the Republic of Turkey.

Applications are conducted by COSME program partner banks.

Product Description

To facilitate SMEs' access to finance, ensuring that they are able to use credit under appropriate conditions, this financial support program has been commenced where all or part of the interest/profit share of the loan is covered by KOSGEB after the bank has provided loans to the enterprises.

Registered and active SMEs which already exists in KOSGEB database with up-to-date SME Information Statement, without any prohibition record under KOSGEB Support Facilities and one of covered business type under this program are eligible for application.

Types of businesses include:

• Entrepreneurs,
• Business in strategic and priority sectors

Loan types within the scope of program are:

• Working Capital Loan,
• Machinery and Equipment Loan,

Resource for Guarantee

KGF Own Equity

Related Financial Institutions / Corporations

Akbank T.A.S, Turkiye Is Bankasi A.S., Turk Ekonomi Bankası A.S., T. Halk Bankasi A.S.,  QNB Finansbank A.S., Turkiye Vakiflar Bankasi T.A.O., Denizbank A.S., T.C. Ziraat Bankasi A.S., Yapi ve Kredi Bankasi A.S., Kuveyt Turk Katilim Bankasi A.S.

Product Maturity

• 12 and 18 months for working capital loans,
• 12, 18, 24, 30 and 36 months in machinery and equipment loans.

Loan Amount

• Maximum loan amount for Entrepreneurs is 50.000 TL.
• If the entrepreneur is young, female, disabled, veteran or first degree martyr relative maximum loan amount is 70.000 TL.
• Maximum loan amount for businesses in the strategic and priority sectors is 500.000 TL.

Maximum Guarantee Rate

%80

Fees and Commission

Application fee: 500 TL

Commission rate: %1 per annum

Applications can be made through related financial institutions.