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PSEC Financing Support PSEC Financing Support

PSEC Financing Support

Exim Pre-Shipment Export Credit (PSEC) financing support is at your service at Vakıf Katılım.

What is PSEC Financing Support?

It is a type of financing provided by Turkish Eximbank (Türkiye İhracat Kredi Bankası AŞ) to exporters and manufacturer firms that supply goods for export purposes to meet their financial needs before the actual shipment within the scope of Participation Banks Pre-Shipment Export Credit (PSEC) program.

Except for Foreign Trade Capital Companies Exporters; exporters, manufacturer exporters and manufacturer firms producing goods for export companies having foreign exchange earning service income which are resident in Turkey can make use of this financing opportunity. Application documents are received from our customers and submitted to Eximbank through our Bank for the purpose of evaluation.

What are the features of PSEC Financing?

Cash financing to be provided within the scope of Participation Banks Exim Pre-Shipment Export Credit program can be provided in TL/USD/EUR currency types.

The credits made available within the scope of the protocol will be short-term with maturity options which varies between 120, 180, 360 and 540 days or middle/long term with maturity options such as 3-year with semi-annual payments & 3-year with 1-year grace period & 5-year with semi-annual payments & 5-year with 1-year grace period.

In PSEC Participation TRY financing payments with 120 and 180-day maturity, principal and profit share amounts are collected together at the end of maturity while principal and profit share payments are collected once every 180 days in PSEC Participation TRY financing option with 360-day maturity. In PSEC Participation Foreign Currency Loan, the principal and profit share amounts are collected together at the end of maturity or instalment payment date.

Financing solution is provided with low-cost profit share rates in particular to SME customers in investment process.

PSEC Participation TRY financing can only be provided to SMEs conforming with the latest criteria published by Eximbank and the upper limit for the application is 1 million TL per transaction.

The profit share rates to be applied to the credits are declared by Turkish Eximbank and profit shares are notified to the Bank.

The profit shares declared by Eximbank and available on drawdown date are taken as basis for the determination of the profit share rates to be applied to the credits.

In financing transactions, intermediary bank commission rate will be added on the profit share to be determined by Turkish Eximbank for the transactions that our Bank acts as intermediary.

Our intermediary bank commission is maximum 1 (one) point per year for TL credits and maximum 0,5 (half) point per year for foreign-currency credits. In financing options with maturity above 1 year, the bank commissions are calculated and collected based on number of days exceeding 1 year over the annual commission.

It must be closed within 2 years following the financing date.

The exempted BITT amount must be paid along with the penalty.

The customer must have cash limit at our bank.

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