Izdiharona For Economic Development

Our Vision Pioneer in providing financial and non financial services to the poor who wants to start /own small businesses.

Who we are?

Izdiharona is a non-profit Iraqi lending program. Established in the 1st of June, 2008.The program has branch offices in the governorates of Missan, Wassit, Babil (Hilla, Iskandarea, Sada), Karbala, and Najaf. Its headquarters is in Sulaymaniyah. The program focuses on providing small and micro loans to individuals and groups who are not able to access bank credit.

Our Mission

Izdiharona mission is to help reduce the suffering of the poor by providing financial and non-financial service that will help to improve the lives of those vulnerable groups – either as individuals or in groups to start, strengthen and expand their businesses, increase their income, self-sufficiency and improve the quality of life of those vulnerable groups, as well as to contribute to the growth of Iraq’s economy.

Objectives

Izdiharona main objectives are to:

• Provide and increase the working Poor’s access to financial services.
• Promote micro- and small business development and improved living conditions.
• Achieve and maintain financial sustainability to ensure that the program continues to serve the financial needs of the working poor.

Product Descriptions

Izdiharona’s loans range from $500 to $25,000. The actual loan size and terms are based on the client’s need/demand, repayment capacity, loan use, co-signers’ salaries, and credit history of the client.

Loans Kinds

1. Business Loans (individual & group loans).
2. Agriculture/Agribusiness Loans.
3. Home Improvement Loans.

Interest & Fees

An (14%-20%) annual interest rate is applied to all loans; the interest is calculated as a flat rate and is deducted up front from the loan approved amount. The interest rate can be modified depending on the economic situation of the country, inflation rate, or program needs.

Borrower Eligibility Criteria

All potential borrowers must meet the following requirements to be considered for a loan from Izdiharona:

1. The applicant must be at least 18 years old and no more than 70 years old.
2. The applicant must have a strong commitment and capacity to repay the loan on time.
3. The applicant must provide guarantor(s) and/or collateral sufficient to cover the repayment of the loan.
4. The applicant must not be overburdened with debt or other (non-Izdiharona) loans.