News from Garanti Bank
Garanti Bank has a new range of products and services for SMEs
22.06.2009 - Garanti Bank has a new range of products and services for SMEs. The new range comprises 5 types of products and services: SME loans, loans for professionals, product packages for SMEs, POS credit line and Garanti Online - internet banking.
The main changes made to the range offered until now pertain to collaterals structure, maximum amount up to which no material collaterals are necessary, level of fees and reimbursement schedule.
Loans for SMEs have a flexible collaterals structure, which can be assignment of receivables, cash collateral, pledges, mortgages or guarantees provided by EXIMBANK and FNGCIMM. The latter allow access to financing to companies that do not have material collaterals available.
Professionals have now tailored financing solutions, being able to access up to 15.000 EUR without material collaterals for a current activity loan and up to 90% of the acquisition value of equipment or working premises, in case of an investment loan. The financing term for investment loans may go up to 30 years.
The three product and services packages: Cash & Keep, Take & Share and Cash & Take combine benefits such as preferential deposit interest rates, 50% lower fees for operations carried out through Garanti Online - internet banking, possibility to access loan facilities without material collaterals.
POS credit line addresses the SMEs using Garanti Bank POS terminals for at least 3 months. This credit line may be granted up to 80% of the average turnover circulated through Garanti Bank POS account.
Garanti Online is made available to SMEs without activation fee, monthly fee and without any charge for the logging-in device or the related guarantee. The fees are by 50% lower than the ones perceived for the same operations at the bank’s counters. Besides the classical transfer operations, Garanti Online allows salary payments using the Salary Payment menu, making FCY payments, setting-up deposits or sending the account statement by e-mail with or without digital signature.
“We think that economic development is possible only if local SMEs are equipped with modern production and management technologies and techniques. For this reason we developed these products and services, aiming to respond to the financial needs of this sector.”, Okan Yurtsever, Retail Banking & Bancassurance Director, Garanti Bank, stated.