SME loans to support growing businesses in Iraq

Business loans with GroFin support

Nomou Iraq Business Loans

Business loans to meet SME growth challenges in Iraq

Structured SME loans for entrepreneurs in the governorates of Iraq. We provide you with the required capital to meet your current business’s needs or to help your business overcome its future growth challenges.

Nomou Iraq Business Support

Business support to sustain the growth of your business

Tailored business support services delivered by an experienced GroFin Iraq investment team to help you face on-going business challenges and ensure the long-term success of your business.

Market linkages

Market linkages to expand your business and stay competitive

Use GroFin’s network of successful clients and global business partners across the Middle East and Africa to help expand your business into new markets and obtain the tools and training required to stay competitive.

Support beyond finance

Nomou Iraq Client - SSC

Entrepreneurs in Iraq looking to start or grow an SME face many challenges. These include finding a committed partner who is able to provide SME loans that are structured according to their business needs and being able to access the support and networks required for entrepreneurship success.

The Nomou Iraq Fund, managed by the GroFin Iraq team, has helped many entrepreneurs and business owners to start or grow successful businesses. We realise that you not only require longer-term finance to grow your business, but also active business support for long-term sustainability.

Investment Criteria

Where we fund

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.

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.

Loan Amount

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

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

Business Operations

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.

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.

Business Sectors

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 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.

Collateral Requirements

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

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

Economic Impact

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

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

Islamic Finance

The Nomou Iraq Fund is committed to supporting the local Iraqi economy and taking the entrepreneur experience to the next level by offering Islamic finance products to cater to this emerging sector, thereby supporting growth and economic development.

Murabahah is the most widely used financing option in the world among all Islamic financing options. Murabahah cannot be used to fund working capital but only for the purchase of goods. However, the goods could be Sukuk and/or Shariah compliant bonds or securities in the stock market whereby the client can liquidate it on the spot and use the funds for his working capital needs.

Murabahah Product Financing

Murabahah is not a cash loan; it is a contract of sale of a specific commodity whereby the mark-up over the commodity is disclosed to the client. This Shariah compliant product allows GroFin to extend financial services to a client by purchasing the commodity for and on behalf of a client at a fixed mark-up, which can be repaid under agreed terms and over an agreed period.

How it works

  • Apply for finance

    Step 1

    The GroFin Iraq investment team reviews your submitted online assessment form against our investment criteria and informs you if we are able to proceed with your application.

  • Get a business check-up

    Step 2

    If you qualify, your Investment Manager contacts you and helps complete your application by conducting an assessment of your business, highlighting key risks and opportunities to make your business investment-ready.

  • Loan approval

    Step 3

    Your application is submitted to a GroFin committee for review. Upon approval, your application will result in an offer that will be documented in a formal letter to you.

  • Disbursing of funds

    Step 4

    Upon your formal acceptance of our offer, we proceed with disbursing funds to your business after completing the requirements and securing the collateral.

  • On-going Business Support

    Step 5

    We provide you with continuous value-adding business support focusing on your business’s needs. Our support is designed to enhance the success of your business while helping you implement your business plan.

  • Grow your business

    Step 6

    On payment of your final installment, our formal involvement with your business ends. The final settlement is a good time to review your business plans and discuss any further finance and support needed in keeping with your future growth requirements.