Business Qardan Hasana Application
In deference to the emphatically stated wishes and directions of Syedna Mohammad Burhanuddin RA and Syedna Mufaddal Saifuddin TUS, the largest proportion of Qardan Hasana funds will be made available for initiating entrepreneurship or for promoting an existing business, particularly for those progressing to self-employment as a replacement for employment
To ensure your application is processed as quickly and efficiently as possible, please submit all documents in accordance with the requirements outlined below.
Incomplete submissions may result in delays or withdrawal of your application. Please note that, in some cases, our underwriting team may request additional information.
Business Qardan Hasana Documentation Requirements
Please ensure you upload the correct supporting documents based on the amount of Qardan Hasana you’re applying for:
Small Qardan (up to £25,000) – Required Documents:
- 3 months bank statements
- 3 months payslips
- If Self employed; previous year’s trading accounts and SA302 tax returns
Medium Qardan (£25,001 – £75,000) – Required Documents:
- 6 months bank statements
- 6 months payslips
- If Self employed; previous two years’ trading accounts and SA302 tax returns
Large Qardan (above £75,000) – Required Documents:
- 12 months bank statements
- 12 months payslips
- If Self employed; previous three years’ trading accounts and SA302 tax returns
- Accountant’s statement regarding current year
You will also need to provide the following documents:
- Safai Chitti: You must provide your Safai Chitti obtained specifically for the purpose of Qardan Hasana. You can contact your Amilsaheb / Jamaa’t to obtain it.
- Two Guarantors: Two guarantors are required for your application. The guarantors must be members of the Dawoodi Bohra community in the UK and known to the Foundation. (For Non-regulated applications that are Business applications above £25,000)
- Two Sponsors: Two sponsors are required for your application. The sponsors must be members of the Dawoodi Bohra community in the UK and known to the Foundation. (For regulated applications that are Business applications below £25,000)
- Jewellery as Rehen: Jewellery worth at least one-third of the value of the requested Qardan Hasana is required as rehn.
- Covering Letter: Please provide a brief covering letter summarising your application, including the purpose, amount requested, and repayment plan. Kindly ensure it demonstrates your ability to meet repayments responsibly.
- Supporting documents: You must provide supporting evidence related to the purpose for which you are applying for Qardan Hasana.
- Business Plan – Submit a structured business plan providing a clear overview of your business. This should include the history and background of the business, an outline of products and services, the current market position, and details of the management and operational framework. Clearly demonstrate how the requested Qardan Hasana will support growth, strengthen operations, and contribute to long-term business stability and expansion.
- Feasibility Report (New Project / Expansion) – Provide a comprehensive feasibility study for the proposed project or expansion. The report should highlight the purpose and scope of the initiative, projected costs, anticipated revenues, profitability, and potential risks with mitigation strategies. Emphasis should be placed on commercial viability, expected returns, and long-term sustainability.
- Cash Flow Forecast – Present a detailed month-by-month cash flow projection covering the full duration of the Qardan Hasana. The forecast must evidence that income will be sufficient to comfortably meet Qardan repayments. Clearly indicate key assumptions, repayment schedules, and projected balances to demonstrate financial resilience and repayment capacity.