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 can provide tangible, ongoing support for North American Olim.
AACI currently administers loan funds totaling over $2,500,000. 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.
4. How does one apply?
Applications are made through AACI COUNSELORS sitting in the 5 REGIONS of AACI. Each loan application requires 2 guarantors. Specific information may be required by the counselor depending upon the type & size of the loan.
BG JORE ELGO BEMI Family Fund
Estate of the late Maurice & Esther Slutz, Cincinnati
Greater Miami Jewish Federation
Hadassah, The Women's Zionist Organization of America
Jewish Federation Council of Greater Los Angeles
Jewish Federation of Greater Philadelphia
Jewish Federation of Metropolitan Detroit
Minneapolis Federation of Jewish Services and St. Paul Fund & Council
The Associated Jewish Community Federation of Baltimore
UJA - Federation of Jewish Philanthropies of New York
Keren Shlomo - Educational Purposes only