AACI Administered Loan Funds Funds for North American Olim
A number of Jewish Federations, organizations and individuals in North America have established funds to help North American's living in Israel. Some funds are intended to assist olim in times of emergency, in establishing a business or for educational purposes. Through these funds, administered by AACI, communities in the United States provide tangible, ongoing support for North American Olim.
Each fund has a volunteer committee in Israel composed of former residents of the sponsoring community, former members of the sponsoring organization, or community representatives of the Federations. Most funds are geared to a specific target group. All details are available from AACI COUNSELORS.
1. What are the terms?
The average repayment period is between one and two years. All loans are linked to the U.S. dollar, repayment is in Israeli Shekels. Most loans are interest free, though some non -emergency loans carry interest.
2. What size loans are available?
Most funds provide loans in sums ranging from $300 to $2,500. One fund gives loans up to $5,000. The average loan is approximately $1,000.
3. Who is eligible?
Each fund has specific eligibility requirements. Most require AACI membership.
4. How does one apply?
Applications are made through AACI COUNSELORS sitting in the branches of AACI. Each loan application requires 2 guarantors. Specific information may be required by the counselor depending upon the type & size of the loan.
- Baltimore Fund
- BG Family Fund
- Boston Fund
- Chicago Fund
- Dayton Fund
- Detroit Fund
- Florida Fund
- Hadassah, The Women's Zionist Organization of America
- Houston Fund
- Keren Shlomo - for educational purposes only
- Los Angeles Fund
- Minneapolis - St. Paul Fund
- Naamat USA
- New York Fund
- Philadelphia Fund
- San Francisco Fund
- Slutz Fund
- St. Louis Fund
- Zober Fund for retraining