When it comes to the cost of adoption, most of us could use a little, or a lot, of financial help. If adoption grants don’t work out for you or fail to provide enough funds, adoption loans can be a great option.
Some organizations that offer loans at very low interest or even no interest with affordable monthly payments. I’ll go into more detail and link to my favorite loan options below.
If you are seriously considering adoption, and you will likely need to pursue an adoption loan, I suggest you start researching loans now so when you’re ready to apply, you already have an idea of who you will go through and what information they will require.
Now, let’s dive into more details on my favorite adoption loan options!
1. Abba Fund
According to Abba Fund, “Since 2004, ABBA Fund has provided more than $5.4 million in adoption assistance to Christian families, primarily through interest-free loans to help with the cash crunch that happens at the end of an adoption journey. That number continues to grow every week as ABBA Fund continues to make new loans to families as current loan families pay theirs off. During that time, ABBA Fund’s community of adoptive families assisted has grown to over 780+ families who have welcomed home 972+ orphans as sons and daughters.”
Abba Fund helps a lot of families. They helped us tremendously and may be able to assist you as well.
Check out more details and learn more about this loan option here: https://www.abbafund.org/how-we-help/loans/
2. Lifesong for Orphans
Upon completion of your homestudy, you are eligible to apply for adoption funding through Lifesong. Complete and submit an application for an interest-free loan along with fundraising support. Note: They also offer a matching grant so be sure to check that out!
Learn more here: https://lifesong.org/adoption/
3. America’s Christian Credit Union
Although we did not pursue an adoption loan through ACCU we do use them for other banking and if we had needed an additional adoption loan, I would have considered this option.
According to ACCU, they offer
- Rates as low as 5.99% APR*
- Loan amounts up to $50,000
- Terms up to 84 months
- Domestic and international adoptions
- Can finance travel costs to foreign countries
- Refinance existing loan to a lower rate with us
- Loan Protection Services available
To learn more about this loan option go here: https://www.americaschristiancu.com/personal/personal-loans/adoption-loans.html
4. National Adoption Foundation
Again, I don’t have personal experience with this organization but according to their site, “The National Adoption Foundation has partnered with Citizens Bank to provide financing options to help with adoption.
The National Adoption Foundation is very proud to announce the availability of Citizens Bank adoption loans From $5,000 to $50,000. These are un-collateralized loans, meaning that you don’t need any collateral to apply or receive a loan in this program. Learn more about how Citizens Bank can help with your adoption-related expenses.
The National Adoption Foundation receives compensation from Citizens Bank for adoption loans opened though this program. This partnership further helps the National Adoption Foundation in its mission of providing financial support for adoptive families to assist them in the successful adoption of children.”
Learn more here: https://www.fundyouradoption.org/adoption-loans/
If an adoption loan is a need for you, don’t limit yourself to only these. By doing a little online research you may find some incredible options that I never came across. But, if you are in a financial situation that makes the cost of adoption prohibitive and you cannot raise enough through grants and fundraising, adoption loans are a great next option.
I’m praying for you on your journey.
If you would also like to check out adoption grants, which I highly suggest, I’ve prepared a comprehensive listing of organizations that offer grants. You can access this list for free through my resource library by entering your email below.