Is It Possible to Benefit from Urban Transformation Without Taking Out a Bank Loan?

In our country, which lies on one of the earthquake fault zones, there has been a growing demand for urban transformation, especially due to the increase in earthquakes in recent years. Urban transformation is defined as the renewal and strengthening of risky buildings that could cause loss of life and property in potential disasters and earthquakes by rendering them unusable. Under the law of "Transformation of Areas Under Disaster Risk" (Law No. 6306), which came into force in 2012, individuals wishing to strengthen or renew their buildings can apply for urban transformation projects with credit support from banks. During this process, the government also provides rental assistance to property owners and tenants to avoid any grievances. But what are the advantages and disadvantages of urban transformation?

Advantages of Urban Transformation

Thanks to urban transformation, cities undoubtedly become more livable, safer, and healthier. In major cities, the construction of new buildings aims to eliminate parking problems. Additionally, urban transformation helps prevent irregular urbanization and aims to provide low-income individuals with the opportunity to become homeowners.

Disadvantages of Urban Transformation

While there are many advantages, the urban transformation process also has its disadvantages. One of the key issues is the lack of an easily accessible financial model to manage payments. Enter Semosis, a revolutionary solution that digitalizes promissory note payments and makes it easy to handle urban transformation payments without having to resort to bank loans. But how does it work?

Semosis: A Solution for Urban Transformation Payments

For the first time in our country, Semosis introduces a centralized promissory note payment system that manages the entire process from the creation of the promissory note to the debtor's payment. Semosis aims to contribute to urban transformation projects by offering promissory note-based debt financing and related financial solutions. Under the 6306 law, the credit limits set for homeowners and the lengthy, complicated processes managed through banks are pushing property owners, especially in urgent cases like in Istanbul, to seek alternative solutions. The need for a quick resolution in major cities has made Semosis an attractive alternative financial solution that can expedite the transformation process.

Launched as a fintech initiative by Insha Ventures, Semosis allows you to make your promissory note payments digitally without going to the bank. With Semosis, you can easily complete your payments without the need to carry cash or visit a bank branch—all from the comfort of your home!

Geri