Interest Free Loan Fund

This Fund was designed to provide interest free loans of up to $500,000 to Jewish educational institutions for the expansion of their facilities in order to provide for increased enrollment. The borrowing institution must collateralize the loan by providing either a letter of credit from a recognized lending institution or by having no more than two people set up a pledged collateralized account in a major brokerage house. If securities are pledged, a minimum of 120% of the amount guaranteed must be placed in the account. The loan is repayable monthly over a period of five years.