Al-Bashaer Iraqi Organization
Who are we?
We are a non-governmental organization that facilitates access to capital to micro and small business entrepreneurs. This helps to enhance and improve the entrepreneurs’ living standards by giving them short term loans (6 to 12 months) with simple conditions.
Our Mission
Supporting micro and small size enterprises.
Development of small business loan products accessible to all.
Encouraging small business loans to women.
What we offer?
Individual loans, to micro and small size enterprises for services, trade, and manufacturing.
Details about loans
The main purpose of microfinance is to support the business of the loan applicant. Therefore, the loan must be used to finance the project that is funded. It should not be used for any other purposes.
The size of the loan will be determined by the financial statements of the applicant and may be limited by his/her guarantor’s income capacity.
The loan amount will range between $500 - $3,000.
The loan repayment period of 12 months on average.
The loans are repaid monthly by the borrower at the bank specified by the microfinance institution.
Conditions and required qualifications
The loan application has to be filled out completely to start the decision process.
The applicant must be between 18 and 63 years of age in order to enter the binding contract.
He/she should have the administrative capability to run the business.
The loan applicant should be the owner of the business.
He/she should not have a sentence against him for any crime or misdemeanor.
Loan charges and fees
The loan applicant has to pay $10 for the service of the loan, deducted from the loan when cashed.
The loan service fee is a rate that is deducted in advance from the loan amount.
Required documentation
Al-Bashaer receives the personal identification of the applicant and guarantor: Identity Card (ID), Iraqi Citizenship Certificate, Residency Card, Ration Card and personal photos.
Application must include the legal documents of the business.
Letter from the guarantor Department to ensure continuity in service and the amount of monthly salary.
Guarantees
Loans are disbursed through an individual guarantee of a person who works in a public office, and should not be a close relative. A third of the guarantor’s wage should cover the loan’s monthly payment amount.
For more information, please contact us at:
Phone: 0790-537-1708
0770-999-5800
0790-513-8220
Website: www.bashaer-iq.org
Al-Bashaer is supported by the USAID-Tijara Provincial Economic Growth Program and financial contributions from the American people.
