The Livelihoods Policy Brief No. 5 is part of a thematic paper series by IOM Iraq that focuses on economic recovery and livelihoods. This policy report specifically examines data gathered from a pilot study of an investment readiness program and draws lessons from it. The study sample comprised Iraqi small- and medium-sized enterprises that won the Enterprise Development Fund. The data collected supports the prevailing evidence that credit constraints pose a significant challenge to SMEs in Iraq. It also reveals that these constraints are closely related to the informality of businesses, as in those not registered with the Chamber of Commerce or Ministry of Industry. Other factors that positively correlate with accessing loans include the business owner having more household members, less fixed assets, and less savings. The results from the pilot study will be used to design a scalable investment readiness program. The program's impact will be assessed through an experimental evaluation, and the results will be included in future reports. Ultimately, the hope is that supporting the growth and investment of these firms will contribute to macro-level outcomes and bolster Iraq's economic recovery. This, in turn, could help address migration drivers and support the return and reintegration of displaced populations.