Ten private and public Turkish banks will offer loans at an interest rate of 17.5%, lower than the average market rates, to businesses with an annual turnover of less than 10 million lira ($1.18 million), the Turkish treasury said on Wednesday.
Only businesses whose revenues in 2020 dropped by 25% compared to a year earlier will be eligible for the loans.
Businesses with an annual turnover less than 1 million lira will be offered a loan of a maximum of 50,000 lira, while businesses whose annual sales are between 1 and 10 million lira will be offered loans of up to 200,000 lira.
Loans will…
