Intidhar qualified for Izdiharona’s new loan product (AlQard Elhasan) which is tailored for women who head their household (widows and divorced ladies), and has no interest rate. She received a loan of 500 USD to replace her old sewing machine which will increase her production and her profits so that she can continue to provide a better life for her child.
The story of Intidhar and her business is just one of the many examples of IED’s clients who have been able to improve their business with a small business loan product, specifically designed to meet the needs of small business where a relatively small capital can provide significant business improvement.
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Izdiharona offers products that are customized for its Muslim clients. This Alqard Alhasan product is an interest free loan, usually offered to students or the very poor, with a focus on female headed households in Iraq. For more information on Islamic microfinance, please click here.
About Izdiharona for Economic DevelopmentIzdiharona for Economic Development (Izdiharona) is a nonprofit organization in Iraq that provides financial assistance to small and medium enterprises in need of capital so they can develop their businesses and train their staff. Founded in 2008, it currently operates ten branch offices throughout Iraq in the provinces of Baghdad, Babil, Basra, Karbala, Messan, Sulaymaniyah and more. Kiva lenders’ funds are used to provide education, startup, green, and youth loans, as well as interest free loans to the ultra poor and loans that support income generating projects for women.
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