The SME Liquidity War: TOBB's Strategic Move to Unblock Credit Channels

As Turkey's real sector struggles to survive under the pressure of high inflation and tightening monetary policies, Rifat Hisarcıklıoğlu, President of the Union of Chambers and Commodity Exchanges of Turkey (TOBB), has engaged with the Central Bank and state banks to resolve the financing access crisis.

The SME Financial Bottleneck and the 'Nefes' Intervention

Global economic volatility and rising interest rates have created credit constraints in the domestic market, leaving small and medium-sized enterprises (SMEs) facing operational risks. Rifat Hisarcıklıoğlu emphasized that low-interest, long-term financing models are critical to prevent credit restrictions from paralyzing the real economy.

■The TOBB Nefes Loan, relaunched with KGF (Credit Guarantee Fund) guarantees, aims to provide vital liquidity to businesses.

■In the Muğla region alone, 13,382 firms have accessed KGF-backed loans.

■There is an urgent demand to accelerate supports for the real economy without undermining the fight against inflation.

Treasury-Backed Intervention in the Tourism Sector

To counter rising costs and economic contraction, a support package was implemented for tourism operators and accommodation facilities. Tax burdens were reduced, and direct financing channels were opened to ensure sectoral sustainability.

■The accommodation tax was reduced from 2% to 1% to alleviate cost pressures.

■Additional financing of 60 billion TL was provided to the sector via Treasury guarantees.

■A monthly minimum wage support of 1,270 TL per employee and a premium support of 3,500 TL for facilities with operating licenses were introduced.

Banks' tendency to block SMEs and consumers under the guise of 'risk management' merely makes the real economy dependent on state-guaranteed loans. Temporary fixes like the 'Nefes Loan' do not solve the structural interest rate problem; they only prolong the cycle of borrowing to pay off debt. These operations conducted through state banks only fuel the appetite of private banks for exorbitant interest rates and file fees. The real solution lies in establishing a financial ecosystem where credit access is a transparent and fair right, not a 'favor' granted by institutions.