Frequently Asked Questions

What is The Angel Fund?
The Angel Fund is a non-profit volunteer-based organization that provides business advice, networking opportunities, and interest free loans to individuals seeking to go into business or keep their existing businesses afloat during difficult times. Drawing on the collective acumen of its business angels (successful individuals volunteering their time and know-haw in a variety of fields and industries), the Fund provides strategic guidance in conjunction with loans, or as a separate service, and monitors client progress to ensure that loans are repaid within a period of one year. Reimbursed funds are reinvested in the pool to help other qualified applicants. Discretion and sensitivity are paramount, and strictest confidentiality is maintained at all limes.

How does the loan process work?
Each applicant meets with a trio of Case Review volunteers who conduct requisite screening and paperwork, evaluate the client's situation and needy, assist in developing a business plan. determine the feasibility of a loan, and make recommendations accordingly. Whenever possible, the Fund assigns Case Reviewers have extensive experience in the client's type of business. One member of each Case Review panel is assigned the role of "Guardian Angel" - a personal case worker who will remain in constant contact with the client and guide him or her through each successive phase of the process. If a loan is recommended, Board approval is requested. Once obtained, the recommended business plan is implemented, and progress monitored until the client fully repays the loan and gains independence. Throughout the duration of the loan, Guardian Angels continue to interface with clients. Board, and advisory committees to report progress and relay advice.

What networking opportunities does The Angel Fund provide?
The Angel Fund is a unique and invaluable business network powered by the collective knowledge and contacts of its many Case Review and Advisory Council volunteers. Clients in need of a contact rather than financial aid, or a specific piece of advice versus a new business plan, can meet and brainstorm with peers or business leaders who can help expedite their needs. Clients may also he referred to the Matchmaking Services division, one of the Fund's greatest resources. Matchmakers attempt to pair clients with people or situations that are advantageous to them, such as investors looking for a business, buyers for their goods and services, or companies willing to negotiate an employment or incentive agreement.

What's the difference between The Angel Fund and other free loan funds?
Loans from the Sephardic Angel Fund arc for business aid only, not for personal use, and no loans arc extended without accompanying advice from Fund committees to ensure that borrowed funds are put to their intended use. All loans must be backed by two non-family guarantors, in order that funds may be safely recouped at the end of the loan interval. If at any time the Sephardic Angel Fund cannot meet a client's needs, it suggests other reputable agencies to contact.

Who are the leaders of The Angel Fund?
The Angel Fond was created at the initiative of board members Victor Azrak. Mark Chraime, Erica Dweck, Irwin Gindi, Jack Haddad, Ely Harary, Benny Harary, Alan M. Maleh, and Ike Sutton. Its working committee has expanded to over 30 members dedicated to making the Sephardic Angel Fund a helpful fixture in our midst Its growing corps of over 120 volunteers includes prominent business leaders from throughout our community knowledgeable in a wide range of business and finance. Our Rabbis have acclaimed the Fund as a necessary service to our Sephardic communities of Brooklyn and Deal, and many individuals have come forward to host events and open their homes on its behalf. The Sephardic Angel Fund is a fully independent tax exempt entity that works in cooperation with other community service institutions, such as Sephardic Bikur Holim. It has helped dozens of individuals to date, and its case load is increasing every day.

Why should I contribute to The Angel Fund?
As we learn from the Rambam. our great sage Maimonides, The highest form of charity is to help a fellow Jew become self-sufficient in his or her livelihood. By contributing to the Sephardic Angel Fund you fulfill this sacred obligation time and again as loans are constantly made and repaid, and individual after individual goes on to achieve self-sufficiency and success. Our Rabbis teach that providing free loans to people in need takes precedence over handing out charity, and that it is better to participate in a communal fund than to lend privately. This preserves the self-esteem of borrowers, assures that funding is always accessible, and enables even one small contribution to go a long way and have a share in extending many more loans. The great Hafetz Haim taught that we should contribute fully one third of the tithe {ma'aser money) that we are obliged to give directly to a free loan fund. When you contribute to the Sephardic Angel Fund. you merit the blessings of both forms of giving, and your generosity is constantly regenerated.

What else can I do to help Business people in our community?
Be an Angel! Let your wisdom and experience light the way for others on an active or consulting basis as your time and schedule allow. In addition to seeking monetary contributions, the Fund encourages successful individuals to join the ranks of business angels volunteering their time and expertise on its Case Review and Advisory committees. By supporting and participating in the Sephardic Angel Fund. you make a tangible difference in the lives of countless individuals'; reap the intangible merits of this most holy misva, generate new streams of revenue in our community, and improve the quality of life for one and all.