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Commercial Loan Application Preparedness and Success (CLAPS) programme for Iraqi SMEs

SPARK, with funding from the United States Agency for International Development (USAID), facilitates entrepreneurs' access to training and financial institutions, as well as supporting financial institutions to better serve small and medium-sized enterprises (SMEs). By boosting the entrepreneurial ecosystem, SMEs and financial institutions can be more interconnected and collaborative, leading to stronger financial support networks for the Iraqi private sector.

Apply with your phone

Flexible guarantor mechanism

Online application process

Tell us more about yourself and we will contact you via WhatsApp

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Here are our answers to the most frequently asked questions. Do you have a different question? Please contact us by WhatsApp

How much can I borrow max? 

You can borrow a loan amount between (RANGE)

Do I need a Guarantor to get a loan?

You need a Guarantor in order to qualify for a loan.

Do I need to have collateral to get a loan?

You don’t need to have collateral to qualify for a loan if you add a guarantor

Do I need to have a smartphone to get a loan?

You do not have to own a smartphone. You can use a smartphone of someone else. However, you need to have a mobile telephone number which you need to enter during the registration process.

Do I need to have a bank account to get a loan?

You need to have a bank account to receive the loan amount.

When can I get my loan?

You will receive the loan amount once the Guarantor and the bank have agreed upon the request.

Do I need to spend the loan amount on my business activity only?

Yes, you will need to spend the loan only in your business activity.

Can I get the loan amount in cash?

The loan amount will be put on a bank account if you are granted a loan.

How do I need to pay back the money?

You can pay back each month using your bank account.

Can I make a change in my application after I submitted?

You can change all details before you submit the loan. After submitting you can't go back to the form to change something. So please, check everything before you submit. After submitting you can contact us via WhatsApp/email to make a change. 

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