The Chaldean Community Foundation partnered with Bank of Michigan to form the Chaldean Loan Fund. Modeled after the Hebrew Free Loan, the Chaldean Loan Fund is designed to provide low-interest loans to community members for the purpose of purchasing used vehicles. Loan amounts are up to $5,000.
To qualify, loan candidates must:
- Be Iraqi Christian immigrants, current refugees or Lawful Permanent Residents (Green Card holders)
- Have a job
- Be current on their refugee travel loan
- Have a co-signer.
To apply for loans, candidates must go through a credit workshop with a Chaldean Community Foundation case manager, who explains the credit process and the importance of a personal credit score in the United States.
To inquire about the program, contact the Chaldean Community Foundation at 586-722-7253 or firstname.lastname@example.org.