Modeled after AVI CHAI’s successful loan program for day schools, the Foundation has established a $25 million fund to enable not-for-profit Jewish educational overnight summer camps to borrow up to $1 million interest free for construction and renovation. Loans, which must be secured by a satisfactory letter of credit from an acceptable financial institution, are repayable after a six-month grace period in 20 quarterly installments over five years. The fund is available for new camp construction, to expand capacity at existing camps, and to upgrade facilities in order to enable camps to remain competitive. To date, 16 loans have closed for over $11 million, and more are in process.
Click here to download a pamphlet on The Building Loan Program for Camps.