KGF – Credit Guarantee Fund

Dumlupınar Bulv. (Eskişehir Yolu
TOBB İkiz Kuleleri C Blok No: 252
Kat: 5-6-7 06530 Çankaya/Ankara


(0312) 204 00 00
(0312) 204 01 97/98

Established in 1991, Kredi Garanti Fonu (KGF) is a non-profit joint stock company pursuant to its Articles of Association. Following the completion of the establishment process in 1993, KGF issued its first guarantee in 1994.

Since then, the company has been serving the primary objective of providing guarantee and collateral support for SMEs and non-SMEs which have credibility but cannot use loans due to insufficient collateral.

KGF shareholder structure includes TOBB (The Union of Chmbers and Commodity Exchanges of Turkey), KOSGEB (Small and Medium Enterprises Development Organization of Turkey) and 29 Turkish banks which represents %99 of the market size of the sector.

Alongside the guarantee schemes it provides from its equity capital, KGF also provides guarantees based on the grants and funds provided by other organizations such as Ministry of Treasury and Finance and European Investment Fund (EIF).

Year of creation
individual entities or association
Type of organization
National Promotional Bank (NPB), National Promotional Institution (NPI), Private, Mutual, Mixed
Type of scheme
guarantee or counter-guarantee
Product typology
guarantee or counter-guarantee or co-guarantee
i.e. fully mutual, funded by SMEs, banking associations, fully public, fully private, private-public, mixed models
Private-Public mixed model
Shareholder structure
Private / Public (in %)
35% Private, 65% Public
Legal form
of single guarantee entity or association: i.e. fund, development bank, development agency, cooperative or mutual societies, bank, foundation, association, limited company, etc.
Public Joint Stock Company
Structure / Network
i.e. central scheme with regional offices, central scheme only, association network
Central scheme with branches
Geographic coverage
i.e. local, regional, national
Sectorial focus
i.e. agriculture, industry, crafts, retail, liberal professions, cooperatives, etc.
All sectors
Size of businesses supported
i.e. large companies, SMEs, micro-enterprises, independent/self-employed
Large companies, SMEs, Micro-enterprises, Independent/Self-employed
Supervision statute
i.e. mono-product banking licenses, financial intermediary statute, non-supervised. For associations, please state statute of members
Profit / Non-profit oriented
dividends to public shareholders are not considered as profit orientation
Non-profit oriented
Do you benefit from a counter-guarantee at local, regional or national level?
Local level or Regional level or National level
National level - Ministry of Treasury and Finance
Are you/your members financial intermediary for EU-programmes?
CIP/COSME or Structural funds or Progress or RSI/RSFF Horizon 2020
Currently KGF implements COSME Program. Prior to COSME, KGF completed CIP program in 2013. IPA program that started in 2011, finished in December 2017
Types of guarantee products provided by your organisation/your membersLoan default guarantees (both working capital and investment loan guarantees) Bridge financing loan guarantees, Leasing guarantees, both in Turkish and foreign countries
Other SME support instruments offered by your organisation/your members
Subsidized loans or Mezzanine financing or Venture capital or Coaching or Mediation services
Is the activity subject to state aid regulation?Yes
Do you (your members) use..?
De minimis or GBER or Regional guidelines or Notification
Do you (your members) dispose of an internal rating/scoring system?Yes
Do your guarantees provide deponderation (capital relief) for member banks subject to capital requirements (Basel agreement)?Yes
Do you (your members) benefit of a public counter-guarantee that allows deponderation (capital relief)?Yes


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