SME loans and business support for entrepreneurs in Iraq

Business loans

Your SME or growing business operates in an Iraq governorate: Al Anbar (Ramadi), Babil, Baghdad, Basra, Dhi Qar, Al-Qādisiyyah, Diyala, Duhok, Erbil, Halabja, Karbala, Kirkuk, Maysan, Muthanna, Najaf, Tikrit, Sulaymaniyah and Wasit. For business loans in Nineveh (Mosul), please visit the Northern Iraq Investments (NII) website.

Your business is in one of our preferred sectors: Education, Healthcare, Agri-Processing, Manufacturing, or Key Services (Energy/ Waste / Water / Recycling). Other sectors can be considered on a case-by-case basis.

Your business is making a positive social and economic impact: e.g. creating jobs, empowering women, benefiting the environment, etc.

Loan Criteria

You require medium-term loan capital between USD 100,000 and USD 2.0m for a loan duration of up to 5 years.

You have an established business: operating for 2-3 years and has an annual turnover of 1.5 times the loan amount. We do consider startups on a case-by-case basis.

We expect entrepreneurs to (partly) secure the loan if collateral is available. Personal guarantees of the entrepreneur(s) are required.

How to apply

Click on ‘I’m Interested’ to complete an online assessment. A GroFin Iraq representative will contact you should you qualify.

I’m Interested

Why choose Nomou Iraq

Nomou Iraq Investments
39

SME
Investments

Nomou Iraq Entrepreneurs Supported
89

Entrepreneurs
Supported

Nomou Iraq Business Loans
US$ 10.5m

Business Loans
Approved

(Figures as at Q4 2021)

The Nomou Iraq Fund (NIF), managed by GroFin, was launched in 2013 with the objective to build a strong SME sector to help rebuild the economic fabric of Iraq and create sustainable jobs for Iraqis. The Fund aims to support local businesses/SMEs to help rebuild an industrial economy damaged by war and embargoes and to create employment in a region where the fast-growing and predominantly young workforce have limited opportunities.

Separate from the NIF is Northern Iraq Investments (NII) which provides finance and technical assistance to small and medium-sized businesses that operate in Nineveh Province or in post ISIS affected areas in Northern Iraq.

Nomou Iraq Fund is part of the Nomou Programme managed by GroFin

About the Nomou Programme

The Nomou Programme is managed by GroFin and provides access to business loans in the form of medium-term risk capital and value-adding business support (expert advice and continuous guidance) to grow SMEs and support entrepreneurs in Egypt, Jordan, Iraq and Oman.

The programme delivers best in class services for dedicated entrepreneurs of start-up or existing SMEs. Each local office is staffed with Investment Managers and Investment Executives who provide front line support to entrepreneurs. Through these services, Nomou is increasing the capacity of the grossly under-served SME sector in MENA, thus developing supply chains and helping to create much-needed employment.

What Iraqi entrepreneurs say

“The financing we obtained from the Nomou Iraq Fund is helping us to improve our working capital and to overcome the delays in payments from our clients. There is always hope. I think the future of the business is promising.”

GroFin Iraq Client Dr Haider Al-Mulla owner of Al Mawazeeen
“Without GroFin’s support, my business would have stayed small, and I would not have been able to realise my dreams, or help others realise theirs”
GroFin Iraq Client Mohamed Al Jabery

Successful Nomou Iraq Fund Client

Al Jabery Industrial Company in Iraq

Founded in 1970 by Mohamed’s father to produce gas water heaters, over four decades, GroFin Iraq client Al Jabery has become a household name associated with water heaters in Iraq.