Al-Takadum Organization in Al-Anbar
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 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 with simple terms and conditions.
Our Mission
Supporting micro and small sized enterprises.
Development of small business, Islamic loan products accessible to all.
Encouraging small business Islamic loans to women.
What we offer?
We are offering three types of loans
Individual Islamic Loans, to micro and small sized enterprises for services, trade and manufacturing.
Group Islamic Loans, to three or more individuals. Individuals in the group guarantee the loans.
Home improvement Islamic Loans.
Agricultural Islamic Loans.
Details about loans
The main purpose of Microfinance is to support the business of the loan pplicant, 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. Loan amount will range between $500 - $3,000.
The loan term is 12 months on average.
The loans paid monthly by the borrower at the bank specified by the microfinance Institutions.
The lending is in accordance with Islamic principles (Al-Morabaha).
Conditions and required qualifications
Loan application has to be filled out completely to start the decision process.
The applicant must be 18 and 60 years of age or older in order to enter into a 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
Loan applicant has to pay the initial opening fee.
Required Documentation Guarantees
AL-Takadum receives the personal Identification of the applicant and guarantor: Identity Card (ID), Iraqi Citizenship Certificate, Residency Card, Ration Card and personal photos.
The application must include Legal documents of the business.
Guarantees
The loans are disbursed through an individual guarantee of a person who works in a public office, and should not be a close relative of the applicant.
A third of the guarantor’s wage should cover the loan's monthly payment amount.
Al-Takadum organization is an Iraqi organization created with financial assistance from USAID and the American people.
For more information, please contact us at:
Ramadi Office: +964 (0) 7906973920
Fallujah Office: +964 (0) 7902 742 818
Al-Qaim Office: +963 999 618 178
