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 to enable camps to remain competitive. Since the program became available to camps in 2006, 36 loans have closed for over $23 million for 26 camps, aiding in the construction of projects costing over $90 million.
Click here for a brochure about the Building Loan Program for overnight camps.
Applications for this program are currently closed.
AVI CHAI concluded its general grant making on December 31, 2019.