SME Loans
Loan Amount
IQD 5 million – 50 million
IQD 51 million – 1 billion
IQD 1 billion – 5 billion (subject to approval from the Central Bank of Iraq)
Our services cover the following:
Purpose
1 - Development of projects in various sectors (commercial, services, industrial, agricultural, medical, and touristic) through the following:
- Opening of facilities and factories
- Development of hotels and restaurants
- Purchase of machines and equipment of all kinds
- Opening of new production lines
- Purchase of raw materials of various kinds
- Development and modernization of existing clinics
- Purchase of devices of all kinds
- Purchase of medical and laboratory equipment
- Purchase of goods
2 - Opening medical clinics, pharmacies, laboratories, pharmaceutical factories, etc.
Target Sector
All sectors
First: The National Bank of Iraq loan is a product financed from the bank’s resources according to the following conditions:
Financing limit:
3 million to 5 billion maximum
Interest rate/annually reducing:
11%
Loan term/Year:
1 to 7 years maximum
Suggested guarantees:
Personal guarantee or commercial mortgages
Accepted terms of guarantee:
- A government employee in service provided that the DBR does not exceed 50% of the value of the monthly installment.
- A first-degree mortgage provided that it covers no less than 100% of the loan amount, including interest.
|
Grace Perriod |
Repayment mechanism |
Commissions |
|
1 month |
Monthly installments |
Granting Commission 0% - 1% |
|
3 months |
Quarterly installments |
Contract arrangement IQD 350,000 |
|
6 months |
Bi-annual installments |
Site inspection IQD 50,000 – IQD 100,000 |
|
1 year |
Annual installments |
Early settlement commission 0% - 2% |
Second: The Central Bank of Iraq initiative for the product financed from the central bank's resources according to the following conditions:
Financing limit:
5 to 50 million maximum
Interest rate/annually reducing:
- Minimum 2.9%
- Maximum 3.4%
Loan term/Year:
1 to 7 years maximum
Suggested guarantees:
Personal guarantee or commercial mortgages
Accepted terms of guarantee:
- A government employee in service provided that the DBR does not exceed 50% of the monthly installment.
- A first-degree mortgage provided that it covers no less than 100% of the loan amount, including interest.
|
Grace Perriod |
Repayment mechanism |
Commissions |
|
1 month |
monthly installments |
Central bank commission 0.005 |
|
3 months |
Quarterly installments |
Insurance companies commissions and guarantees 0.006 |
|
6 months |
Bi-annual installments |
Site inspection IQD 50,000 – IQD 100,000 |
|
1 year |
Annual installments |
Site inspection IQD 25,000 |
Services and Benefits:
- Fast transaction processing in no less than 15 working days from the moment all papers and conditions are completed
- Current account services
- Bank transfers
- Credit cards and ATM cards
- NBI online service
- Text messaging service
- Deposit accounts with preferential interest
- Savings accounts
Subject to the conditions and approval of the National Bank of Iraq in accordance with the restrictions and instructions of the Central Bank of Iraq
Those wishing to benefit from the offer mentioned above can visit the nearest branch of the bank spread across the governorates (Baghdad - Al-Mansour - Kadhimiya - Jamila - Erbil - Sulaymaniyah - Najaf - Karbala - Basra - Umm Qasr - Rumaila) or call one of the department’s numbers (SMEs facilities) as follows:
Head Quarters 07809270676-07833035374-07818775369
Basra 07833035373
Najaf 07833035372
Karbalaa 07833035371
