Apply for NII Finance BDI | Defensive driving training services
GroFin Iraq Client When you fill in an application for a GroFin NII loan, we assign an Investment Manager to walk with you each step of the NII process. Support to Grow your Small Business Noor El Qamar | Manufacturing of thermostone
GroFin Iraq Client As an NII client, you will have access to not only finance but also GroFin’s in-house business support to help your business grow. Create a Positive Impact Al Majal |Reparation & maintenance of
heavy machines/equipment
GroFin Iraq Client Through GroFin’s experience your business will create a positive impact within your community and beyond.
The NII Process

Our process can be grouped in six main stages. We will assign an Investment Manager to walk with you each step of the way.

GroFin's BUSINESS SUPPORT

Success through effective partnerships is what we want to achieve in working with you to overcome your business challenges and maximise business opportunities.

INVESTMENT CRITERIA

We invest in small and growing businesses that can scale up and be sustainable as well as create positive impact in Iraq.

 Awael Al Janoob | Wholesale trade
A GroFin Iraq client

NII FUNDING

We provide finance and business support to small and growing businesses in Iraq. Entrepreneurs and business owners looking to start or grow their businesses face many challenges. They need a committed partner who can provide finance that is structured according to the needs of their business, and value-added business support services that will improve their chances of success.

NII PROCESS

When you fill in an application for a GroFin NII loan, we assign an Investment Manager to walk with you each step of the way. Your business will be assessed, and you will receive a thorough breakdown of its current health as well as the risks and opportunities. A finance committee of experienced professionals evaluates each investment application.

Your journey with us consists of the following stages:

Stage 1 – Applying for finance
We review your initial application and business needs against our investment criteria and a decision is made as to whether we are able to proceed with your application.
Stage 2 – Getting a business check-up
During this process, your Investment Manager provides you with an as-is assessment of your business, highlighting key risks and opportunities, as a form of pre-finance business support to make your business investment-ready.
Stage 3 – Approving your application
The complete and verified application is submitted to a committee of experts for review. Upon approval, your application will result in an offer that will be documented in a formal letter to you.
Stage 4 – Dispensing funds to grow your business
Once you have formally accepted and met all conditions and requirements of our offer letter, we will proceed with disbursing funds to your business.
Stage 5 – Ongoing support to scale your business
We will provide you with continuous value-adding business support focusing on your business’s needs. Our support is designed to enhance the success of your business while helping you implement your business plan.
Stage 6 – Growing your business
On payment of your final instalment according to an agreed financial plan or other agreed settlement, our formal involvement with your business ends. Final settlement is a good time to review your business plan and discuss any further finance and support needed in keeping with your future growth requirements.

GroFin’s BUSINESS SUPPORT

As a Northern Iraq Investments client, you will have access to not only finance but also GroFin’s in-house business support to help your business grow and reach new heights of success.

GroFin works with you to help you overcome your business challenges and maximise business opportunities. The GroFin team provides you with non-financial services, both before and after providing funds to your business, encompassing the necessary assistance, guidance, mentoring, handholding, coaching, and other value-adding services that will lead your business to:

  • Become investment-ready, with a financeable business plan;
  • Enhance prospects for rapid sales growth;
  • Reduce risk and become more formalised; and
  • Strengthen its long-term viability.

For this reason, entrepreneurs need to be receptive to receiving advice and implementing recommendations, typically around improving the formalisation of their business.

Learn more about GroFin’s Business Support through the GroFin website.

Al Majal | Reparation & maintenance of heavy machines/equipment

BUSINESS SUPPORT STAGES

Investment Criteria

  • You are an established business and not a start-up
  • Your business is registered as a legal entity or has an active license to trade
  • Your tax payments are up to date
  • Your business has an active bank account in Iraq or you are willing to open a new bank account in USD and obtain a chequebook
  • You can provide financial statements (audited or unaudited)

We invest in small and growing businesses that can scale up and be sustainable as well as create a positive impact in the north of Iraq.

We consider applications for funding from businesses which fulfil our investment criteria as below:

Your business operates in Nineveh Province or in post-ISIS-affected areas in northern Iraq.

  • Mature (>6 years)
  • Early maturity (3-6 years)
  • Early stage (1-3 years)
  • Start-ups are considered when they are backed by an entrepreneur with significant experience, track record and material financial commitment to the venture.

GroFin considers businesses in all sectors with exception of those activities that have significant potential negative social and environmental impact. We also do not invest in financial intermediation businesses or non-profits such as NGOs, and community groups.

Primary agriculture is only considered if it takes place in a controlled environment and at scale. ​

Between US$ 25k – US$ 250k

2-4 years

The entrepreneur should have an own significant investment in the business and the ability to manage a business – from operations, sales, financial management, administration, and leadership. They must be willing to work with the GroFin team as a value-adding financier and share management information regularly.

They must have growth ambition and demonstrate integrity and professionalism in their dealings.

Low collateralization requirements (no real estate required)

The business should have a measurable impact on jobs they support and sustain, female ownership, female employment and semi/unskilled labour.

SMEs that provide indirect job opportunities (e.g. training, skills development) or environmental services (water, waste, energy, ecotourism) are also attractive to GroFin.

Are you ready to grow your small business? 

Find out now if your business qualifies