ICBG News
15 February
Dow Jones Newswires Interviews ICBG Chairman on $16.5M in LoansMay 2009
NOTEJune 2007
ICBG News UpdateOctober 2006
ICBG Launch Set For Late OctoberSeptember 2006
ICBG Website OpensPortal Iraq News
Employment found in cleaning Iraqi city Iraq's Education Management Information System develops USAID helps track price fluctuations in Baghdad's wholesale markets Iron, folic acid supplements delivered to Baghdad Iraq MoCH needs computer network for Technology Transfer Center USACE awards Versar $40.6 million contract for Iraq reconstruction effort Iraqi leaders discuss security, economy at first-ever Northern Governors' Conference Construction of Iraqi border forts progressesIraq Updates - Economy
3 September
Federal Appeals Court Discharges Former Iraqi Trade Minister Government Unlikely to Pay Salaries Before Eid al-Fitr Zamily Calls Parliament to Enact Laws to Boost Iraq Economy New Wheat and Rice Bids to Provide Iraq Market Needs ISX Caps Week with Slight 0.04% Down2 September
U.S. Touts Iraq Trade Mission As War Mission Wanes Jordan's Industry and Trade Minister Leads Commercial Delegation to Kurdistan Kurds Want Jordanian Businesses to Invest More in Kurdistan
Q. What types and terms of loans does ICBG guarantee?
ICBG may guarantee the following:
- Short term loans (less than one year) to support working capital, and,
- Medium term fixed asset acquisition loans of one to five years.
Q. Is a grace period for repayment applicable?
The grace period is decided by the bank and subject to the cash flow projection.
Q. Do I have to pay any loan guarantee fee?
The bank pays a 2% loan guarantee fee that may be passed on to the borrower.
Q. Are there any other fees payable?
All applications must be accompanied by a US$100 non refundable application fee.
Q. What is the maximum loan guarantee coverage?
ICBG guarantees up to 75% of the approved loan.
Q. What is the maximum amount of loans that can be guaranteed by ICBG?
ICBG will guarantee loans between USD 5,000 and USD 250,000 (denominated in either US Dollars or Iraqi Dinars)
Q. Are personal guarantees and collateral required for loans guaranteed by ICBG?
The ICBG loan guarantee program supports cash flow based lending. However, the participating banks or ICBG may require personal guarantees and suitable collateral.
Q. What are the interest rates chargeable on ICBG guaranteed loans?
Interest rates are a matter of commercial negotiation between the bank and the borrower. However, ICBG urges its participating banks to apply the prevailing market rates.
Q. Where can I find technical assistance to help me with my loan application or in developing a business plan?
The loan officers from the participating banks are trained and available to assist with these items.
Q. Where and how can I get an application form?
You can obtain an application form;
- From any of the participating banks.
- By sending an email to The Iraqi Private Banks League.
- By downloading it from here.
