Cash management Loans:
You can take advantage of the Cash Management Loans to finance your social security, tax, utility payments and to pay your blocked cheques, cleared cheques, collection cheques.
These are TL/FX loans granted on an overnight basis for daily needs of companies. Interest collection is made on a daily basis.
Spot Loans TL/FX:
These are TL/FX loans granted to meet short and medium-term financing needs taking into account developments in market conditions.
- At the maturity date, loan is repaid along with interest with a lump sum payment.
- Applicable interest rate and maturity are set according to the market conditions prevailing as of lending date and remain unchanged during the life of the loan. It thus ensures hedging against duration and interest risk and helps regulate cash flow of customer.
- Spot TL/FX loans with early repayment option are type of spot loans that can be repaid partially of fully before maturity. At closing date, (repaid portion of) principal, interest and ancillaries are collected.
- Spot FX Loans are FX loans granted to finance short-term cash needs of export companies and companies with earnings in FX. Applicable interest rate and maturity are set according to the market conditions prevailing as of lending date and remain unchanged during the life of the loan. Such loans cannot be repaid before maturity. If such a commitment is fulfilled, the loan is exempt from taxes, duties and charges.
These are TL/FX loans without a certain maturity, with periodical (at quarterly term-ends) interest collection granted to meet short term working capital needs.
- Interest rate is determined according to developments in money markets.
- It is ideal for companies with short-term cash needs or purchasing goods with advance payment.
- The fact that collaterals can be turned to cash or that it can be partially or fully repaid with cash payments enables companies to minimize their interest burden.
These are TL/FX loans utilized in a single sum, with repayments in the form of equal or flexible installments within the maturity on a total amount including principal, interest and taxes payables. Installment periods can be monthly or quarterly.
- Ease in repayment thanks to installments
- Ease in repayment habit since installment amounts remain unchanged until maturity,
- Ease of fixed interest rate during the life of loan and easier cash flow planning.
FX Indexed Loans:
These are loans that companies can use without any FX commitment, based on application of interest rate applicable to FX taking into account appreciation of foreign currencies against TL. Such loans are repaid at maturity including collection of principal, interest (including increases in FX rates), Resource Utilization Support Fund (RUSF) and Banking and Insurance Transactions Tax (BITT). It does not include any export commitments. Fixed or revolving interest rate can be applied to FX-indexed loans according to customers demand and prevailing conditions.
These are long term loans lent to cover financing needs of investments made by companies in general. They can have grace periods. The repayment source of project loans are cash inflow from investments made, feasibilities thus cash flow must be analyzed.
NON CASH LOANS
Letters of Guarantee:
A letter written by the bank to a governmental office, a public enterprise, a real person or a corporate body to undertake that a certain work, delivery or undertaking shall be performed, made or fulfilled within a certain period of time and under certain conditions, and that otherwise the bank shall pay unconditionally the amount which the party who undertook that certain work, delivery or undertaking has to pay in case of such failure.
Letters of guarantee can be issued in TL or FX depending on the customers decision. They can be issued for a certain or undefined validity term.
Letter of Credit:
This is the type of credit whereby our bank guarantees that the good of requested features are purchased in return for the amount which the importer company pays or will pay on maturity and exporter collects the cost of the good under determined circumstances concerning imports transactions. The recipients bank undertakes that s/he will make payment to the seller via a bank in the exporters company against documents showing that the goods were sent within the determined period of time.
Letter of credit is the system of making payments against control of goods and documents that transfer ownership and banks that are institutions of trust are used in this system concerning international trade by buyers and sellers as being a reliable payment method.