Machne Israel’s Keren Levi Yitzchak, established by the Rebbe in honor of his father, Rabbi Levi Yitzchak Schneerson, has announced a pilot project with two local educational institutions, in honor of Chof Av, yahrzeit of Rabbi Levi Yitzchak.
Limudei Kodesh teachers at Lubavitch Yeshiva Crown Street and Ocean Parkway can now apply for short-term loans from the Keren, which will be guaranteed by their employers.
Those interested in applying for a loan can contact their employer or the Keren directly by emailing [email protected]
In the coming months, the program will be opened and expanded to additional educational institutions in the community and beyond.
The pilot is being launched by Rabbi Shmaya Krinsky, Director of Development at Machne Israel in conjunction with Rabbi Itchik Orimland, of ULY Ocean Parkway, and Rabbi Yossi Langsam, of ULY Crown Street.
Keren Levi Yitzchak is part of a suite of charities founded by the Rebbe known as “Magbis.”
Keren Levi Yitzchak was founded by the Rebbe in 1964, at the Chof Av farbrengen marking the 20th yahrzeit of the Rebbe’s father, Rabbi Levi Yitzchak Schneerson. The Rebbe announced that the purpose of the fund is to provide assistance, primarily short term loans, to yeshiva teachers.