CGF / (Credit Guarantee Fund)

 PURPOSE OF THE CREDIT GUARANTEE FUND

Provides financing for investments and businesses for a corporation under the conditions set by the guarantee.CapitalBank has signed an agreement with the Credit Guarantee Fund , cooperating to provide financing guaranted by the CGF.

WHICH LOANS ARE GIVEN GUARANTEE?

  • Guarantee is given for loans granted to exporters and corporations producing goods and services  for those experiencing liquidity problems; or during a recession or natural disaster.

GUARANTEE AMOUNT OF THE CREDIT GUARANTEE FUND

  • The Fund can guarantee maximum 60% or the coverage for the business or 90% during natural disasters.
  • For each loan given by CGF;

Minimum amount       TL.50,000.-

Maximum amount        TL.1,000,000.-

CGF GUARANTEE DURATION

  • Duration of The Guarantee Agreement is determind by The Board of Directors of the Central Bank of TRNC, according to the loan amount and agreement.
  • The Guarantee Agreement cannot exceed 2 years on overdraft accounts.

COLLATERALS  ACCEPTED IN RETURN OF GUARANTEE BY CGF? 

  • Property,
  • L/G (Letter of Guarantee)
  • Fixed Income Securities
  • Cash
  • Machineries or vehicles
  • Guarantorship

GUARANTEE COSTS

  • Standard Review Fee: One time fee of 100 TL taken upon application.
  • Premium: Bank makes payment of 0.5% (50 bps) over guranteed amount.