New American Lending: Abdul and Zahra’s Story

Immigrants and refugees face countless challenges as they adapt to a new country and culture, integrate into new communities, and start their lives from scratch. One of the biggest hurdles is finding the financial support needed to start a business, especially without an established credit history or knowledge of the financial system.

Abdul and Zahra know this predicament all too well.

The couple fled danger in Afghanistan, arriving safely in the U.S. with their four children and hopes of following their American dream. For Abdul, that meant owning and operating his own business.

“Starting a business is the first step in achieving my goals,” he says. “I needed a loan to help me get started.”

His initial goal was driving for a rideshare service, then building a business to provide private driving services for clients in his new home state of Illinois. He even earned his chauffeur’s license to get him one step closer to his goal. But what he really needed was a reliable car.

Abdul did his research, looking online at various banks and lenders in search of an automobile loan.

“It was very difficult finding a bank that offered the kind of loan that I needed,” Abdul says.

The kind of loan he needed was a Riba-free loan.

“Riba” is an Arabic term for “interest.” In Islam, earning or paying interest in financial dealings is prohibited. Riba-free loans are structured in a way that does not involve interest, which helps Muslims obtain loans without compromising their religious values.

Abdul’s search for a lender that understood his needs as a refugee and a Muslim led him to a Global Refuge program called New American Lending.

New American Lending offers personal and business loans for refugees and immigrants with affordable loan rates, approvals for applicants with challenged credit or no credit, free financial and business coaching, interest-bearing loans, as well as Riba-free loans.

“It was very important to me to find a loan that aligned with my faith,” says Abdul, who worked with the New American Lending team to structure a loan with terms that fit his needs and budget.

With his loan funds, Abdul purchased his car and began his private driving business.

“New American Lending gave me a ray of hope,” he says, adding that he was so pleased with the help he received that a year later he returned to New American Lending with his wife Zahra to apply for a loan to grow her home catering business. With her loan, Zahra purchased an industrial grinder and other kitchen equipment, bulk inventory, and digital equipment for promoting her business on social media.

Now, the couple works together, with Abdul handling food delivery for Zahra's business.

“This program is important and very helpful for a person new to the U.S. who is in need and who does not know where to go for help,” he says.

As immigrant entrepreneurs, Abdul and Zahra are not alone. According to a recent report, nearly 23% of entrepreneurs in the U.S. are immigrants and their businesses generate $110 billion in business income.

“Supporting refugee entrepreneurs is a win-win for everyone,” says John Godwin, director of New American Lending. “Refugees bring new ideas and services into our neighborhoods, create jobs, and fuel a stronger economy for us all.”

*Names have been changed to protect client identity.