Building Loan Program – Day Schools

 

In response to the impressive enrollment growth in the day school world in the 1990’s, 15 years ago The AVI CHAI Foundation initiated a loan program to assist schools that were planning to build new facilities or to improve their existing facilities. The loans were interest-free, with a grace period of approximately six months after the loan was made and with repayment scheduled over the next five years in 20 equal quarterly installments. Since its inception, the program has made 139 loans totaling $116 million. We are proud of what has been achieved as a consequence of this initiative.

Since The AVI CHAI Foundation will be ending its activities in eight years – in January 2020 – it has become necessary to schedule the termination of the loan program so that all loans are repaid by the Foundation’s spend-down date. Accordingly, for a new loan to be considered, an application must be submitted no later than June 30, 2013. For a loan to be made, the process must be concluded no later than December 31, 2013.  We respectfully ask all schools that may be interested in participating in the program to be mindful of these dates. It continues to be our privilege to sponsor this project, which has been greatly beneficial to the Jewish day school world.

Click here for a brochure about the day school Building Loan Program.


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