In order to help schools meet the increasing demand for day school seats, AVI CHAI has committed a revolving pool of $50 million to provide interest-free construction and renovation loans to day schools. The maximum loan is $1 million for new construction and $500,000 for 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. Over the last decade, we have made over 125 loans totaling more than $100 million.
Click here to download a pamphlet on The Building Loan Program.