Commercial Loan Application Preparedness and Success (CLAPS)
According to Harash et al. (2014), small and medium sized enterprises (SMEs) in Iraq represent 99% of all companies in the private sector. The COVID-19 pandemic significantly impacted their production and so since 2020, SPARK has been supporting Iraqi SMEs to adapt and thrive by creating tailored toolkits and providing skills development, mentorship and access to finance.
Building on this success, SPARK works hand-in-hand with Chemonics and USAID to initiate the Commercial Loan Application Preparedness and Success (CLAPS) programme for Iraqi SMEs. With Chemonics as our lead partner, together we facilitate entrepreneurs in gaining access to training and financial institutions, as well as supporting financial institutions to better serve SMEs. By boosting the entrpereneurial ecosystem, SMEs and financial institutions can be more interconnected and collaborative, leading to stronger finanical support networks for the Iraqi private sector.