Offered only to existing loyal customers who have renewed their loan with CHF Iraq for the 4th time and above. The Consumer loans may be used for any personal purposes. The Consumer loan amount ranges from $100 to $25,000, with a repayment period up to 24 months.

The actual loan size and term are based on the business owner’s need/demand, repayment capacity, credit history and loan use.

Potential borrowers must meet the following requirements to be considered for a loan:

  • The applicant must be at least 18 years old and no more than 65 years old.
  • Any borrower aged 65 years and above isn’t authorized to take any loan unless it is a renewable loan and should be under the name of his son, daughter, or wife.

·         For Business Loans the applicant must be the owner of the business and the business must be in operation for at least one year.

·         The applicant’s business activity or house must be located in the governorate from which he/she is applying for a loan.

·         The business activity must be legal. The business however does not have to be licensed or registered.

·         The applicant must have a strong commitment and capacity to repay the loan on time.

·         The applicant must provide guarantor(s) (and potentially collateral) sufficient to cover the repayment of the loan.

  • In addition to the Business Loan requirements, the applicant must be VITAS  borrower for the 4th cycle and above and he can use the loan for any personal purposes
  • The Consumer loan purpose should be only for personal needs. If a loan will be applied for both business (more than 50% goes to business purposes) and personal will be directly considered as a Business loan