Middle-Market Lending

Created by CHF International, Overseas Private Investment Corporation (OPIC) and Citibank in August 2004, the Iraq Middle Market Development Foundation (IMMDF) is working across Iraq, providing large commercial loans to private Iraqi businesses. To date, IMMDF has issued more than $63 million in loans to more than 20 companies, creating thousands of jobs.

IMMDF currently operates three loan programs. The first program is for Middle Market Enterprise (MME) loans of $500,000 to $5,000,000 each, for up to five years. IMMDF’s second program expanded the organization’s product offering to Small and Medium Enterprises (SME). SME loans are $35,000 to $500,000 for up to four years. Similar to the MME program, the SME loans will target operating businesses, but because it is ‘down-market’, a wider spectrum and greater number of Iraqi businesses will be eligible. The third program is a component of the SME loan program focused on agribusinesses with a focus on loans to agribusinesses loans of up to $2 million.