June 6th, 2006
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Categories: Adoption Funding

This is the second half of resources for adoption loans. See the previous post for more information. I recommend you talk with several different organizations and banks to get a good idea of what options, interest rates, terms, etc. are available.

When I was able to find a website, I included the link and you can click on the name of the resource. In some cases I was only able to find a phone number.

The National Adoption Foundation- The NAF offers a credit card designed with adoptive families in mind, with all the benefits and protection offered by U.S. Bank and Visa. Plus, a portion of every purchase will go to support the NAF’s efforts to remove financial barriers to adoption for all families, no matter what their income. Card benefits include, No annual fee, 0% introductory APR for six months, No balance transfer fees for six months, Liability protection for unauthorized purchases and

24-hour cardmember service.

A Child Waits Foundation- A Child Waits Foundation provides low interest loans up to $10,000 for families who have exhausted other financial options and could not proceed with their adoption without some help. All loan applicants must be using an adoption agency that is licensed in their state of operation.

The Jewish Free Loan Association- This organization provides interest-free loans for adoption and in vitro fertilizaton to Jews and non-Jews alike. You must show proof of need and have two qualified co-signers.
Contact: Executive Director Mark Meltzer
Phone: (323) 761-8830

Oxford Adoption Foundation, Inc.- This organization’s objective is to help families who could not proceed with the adoption process without additional financial assistance. Before potential adoptive families can apply to their foundation, they should first try to obtain funds from other sources such as friends, relatives, home equity loans, etc. Their typical loan is $5,000 per adopted child and the loan is 0% interest for the first three years; 3% interest for the next three years; and 6% interest for the remaining three years. There is a $100 application processing fee (nonrefundable) for all applicants which must be sent with the application material.

The Abba Fund- provides financial assistance to Christian couples who need help with the “cash flow crunch” posed by adoption expenses. Adopting couples may request financial assistance in any amount, based upon their needs. The couple will enter into a covenant agreement with The ABBA Fund whereby the couple agrees to reimburse The ABBA Fund in manageable monthly payments. Financial assistance provided by The ABBA Fund is interest free. Couples seeking assistance must complete an application, and assistance will be provided by The ABBA Fund in stages as the adoption process moves along.

Adoptionloans.com- Adoption.com presents this website that offers the means to help families make their adoption dreams come true. This site offers access to mortgage-based loans, unsecured/personal loans, credit cards, and other financial resources to fund your adoption. There is no obligation and the initial consultation is free.

MBNA- MBNA offers an unsecured credit line of up to $25,000 for prospective adoptive parents through a new program offered by MBNA America Bank. Initial repayment terms range from 24 to 84 months, depending on the amount borrowed. Families can submit an online application or call toll-free (888) 628-7700 and ask for priority code “LODK” to apply. Here is a link that talks about the MBNA adoption loan.

God’s Grace Adoption Ministries- This organization offers loans and grants to two-parent heterosexual Christian couples planning to adopt, whose income is less than $60,000 annually. Visit their website for more information.

Nations Bank- This bank offers low interest loans for adoption purposes. More information is available by calling 1-800-448-7061.

First Union (D.C.): This company offers low interest loans for adoption. This adoption-financing loan program supplements employer provided adoption assistance or helps those who do not have this benefit. Available to prospective adoptive families living in CT, DE, FL, GA, MD, NC, NJ, NY or VA. Recommended by an adoptive family who says, “We found the people at First Union to be prompt, friendly, and helpful, and the loan rate was as it was advertised.” More information is available by calling 1-888-314-5437

Advanced Performance Financing- This company offers loans, including adoption loans.

U.S. Bank- This bank offers home equity loans or lines of credit and low interest credit cards for adoptive parents.

I am sure that there are other options out there, but I hope this list helps you on your way. As always, if you know of a great resource that I have missed, please leave me a comment or email me at transracialadoptblog@adoptionmail.com and I will add it.

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