Al-Tadhamun Economic Development Center

Do you want to expand your business or start a new one?

Are you looking for funding?

Visit us to find out about the opportunity to get a microfinance loan!

Who are we?

We are a microfinance institution officially registered and licensed as a non-governmental organization. Micro and small business entrepreneurs can access loan capital from us at competitive rates. We aim to help enhance and improve the Ninewa entrepreneurs' living standards by giving them short term loans (6-12 months) with simple terms and conditions.

Our Mission

Support micro and small sized enterprises to serve the trade and agribusiness sectors, in order to refresh and develop the Ninewa Governorate economy.

Encourage small business loans to women.

Develop and expand businesses to create new job opportunities for the unemployed.

Lending Products

Loans for services, production, trade, agribusinesses, and industrial businesses.

Loans for home rehabilitation and improvement.

Loan Terms

Loan purpose is to finance the growth and profitability of the loan applicant's business. Therefore, the loan amount must be used to finance the project that is funded. It should not be used for any other purposes.

Al-Tadhamun will provide small business loans to businesses that state a clear purpose and plan: examples include the purchase and repair of equipment, the purchase of raw materials for farmers, industrial entrepreneurs, marketers, and personal loans for home improvement.

Lend to existing businesses and projects not less than one year for improvement and expansion.

Al-Tadhamun will provide start up loans if the client has or is managing another business that is similar to or connected with lending for; to ensure enough income generation that covers the installments of Al-Tadhamun.

The size of the loan will be determined on the financial statements of the applicant and may be limited by his/her guarantor's income capacity.

Loan amounts range from U.S. $500 to $3,000.

Repayment terms are up to twelve (12) months.

Loan repayments are monthly installments made to a bank designated by Al-Tadhamun.

Conditions and required qualifications

Loan application completed and signed.

Applicant must be between 18 and 60 years of age in order to enter into a binding contract.

Demonstrated capacity to run the business for which the loan is requested.

Loan applicant should be the owner of the business.

No criminal record such as for felonies and misdemeanors; of sound character.

Loan Charges and Fees

Loan applicant has to pay the initial opening fee.

Loan service fee is at a rate that is deducted in advance from the loan amount.

Required Documentation Guarantees

Government-issued personal identification of both applicant and guarantor: examples include national identification card (ID), Iraqi citizenship certificate, Iraqi passport, residency card, ration card and personal photos.

Business registration/license certificate

Guarantees

Loans are disbursed on condition of a personal guarantee from one who is a civil servant, and that one-third of his/her wages can cover the loan's monthly repayment.

For more information, please contact us at:

E-mail: tathemn@yahoo.com