Industry and Technology Minister Mehmet Fatih Kacır has announced interest-free loans for micro and small businesses in Türkiye whose premises were damaged by floods this year, Anadolu Agency (AA) and İhlas News Agency (İHA) reported. The loans will be provided under the Emergency Situations Support programme (Acil Durumlar Desteği) of KOSGEB, the state agency that supports small and medium-sized enterprises.
Up to 1 million lira with no financing cost
Small enterprises can borrow up to 1 million lira and micro enterprises up to 500,000 lira, both agencies said. KOSGEB will pay the full interest or profit share on the loans, meaning the businesses carry no financing cost.
The loans have a maturity of 24 months, with no repayments due in the first six months. Applications can be made until 31 December 2026, AA and İHA reported.
Who qualifies
The support is open to micro and small businesses affected by floods and inundations in 2026 whose damage has been assessed by provincial governorships. Applicants must also show, with documents from official authorities, that they were affected and that the effects are continuing, the reports said.
Kacır announced the programme in a social media post on Tuesday evening. He said it aims to help businesses in Istanbul and other cities hit by floods recover their losses and keep operating, İHA reported. The announcement named only Istanbul and did not list other provinces.
KOSGEB will send the official damage records to the banks taking part in the scheme, and the bank details will be announced to businesses once that step is complete, İHA reported. Interest or profit-share rates and other details will be set in protocols with the banks.
Recent floods
Heavy rain has flooded streets and premises in several parts of the country in recent weeks, including Istanbul on Tuesday evening and Bodrum, where 20 points were flooded. The KOSGEB scheme comes a day after a new 50 billion lira tranche of the TOBB Nefes loan for SMEs opened for applications.
Sources
- Bakan Kacır, selden etkilenen küçük işletmelere faizsiz kredi verileceğini duyurdu (Habertürk / AA)
- Esnafa 1 milyon lira destek müjdesi: Bakan Kacır duyurdu sel felaketinin yaraları sarılıyor (Yeni Şafak / İHA)
Photo: Sourabh.biswas003 / CC BY-SA 4.0, via Wikimedia Commons
