The purpose of this study is to examine the relationship between entrepreneurial orientation and competitive advantage (CMA) and to investigate the moderated role of financial support (FNC) between the influences of entrepreneurial orientations on CMA. This study adopted a quantitative approach using survey instruments. The targeted sample size was 680 from a total manager population in 3526 SMEs working in Kurdistan Region Government (KRG) in Iraq. The total number of usable questionnaires was 580. Structural equation modeling was employed to examine the relationship among the variables. The statistical result showed that entrepreneurial orientations significantly influenced on CMA. The results also highlight that FNC had a moderated role in relationship between entrepreneurial orientation and CMA in SMEs in Iraqi KRG.