Facilities Financing Opportunities (Credit Enhancement)

Looking for facilities assistance? If you work with a charter school and are looking for facilities assistance, you may be interested in contacting the current grantees under the Credit Enhancement for Charter School Facilities Program to determine if they are able to work with your charter school to secure financing. These grantees do not provide grants, but they work with the charter school to secure financing (loans/bonds) for facilities. Please note that each of these grantees have a focus area, so you should contact those grantees that are interested in working in the State of your charter school or have a national focus. Also, it may be helpful to visit the websites of these entities to get a better sense of the work they do.

We encourage charter schools seeking services to contact multiple organizations to determine which one can offer the best rates and terms for their situation.

Credit Enhancement Grantees

Nonprofit Finance Fund (NFF)

Credit Enhancement Available 
Yes

Contact:

  • ADDRESS: 5 Hanover Square, 9th Floor, New York, NY 10004
  • PHONE: (212) 457-4700
  • EMAIL:
  • WEBSITE: https://nff.org/

Nonprofit Finance Fund (NFF)

Credit Enhancement Available 
Yes

Contact:

  • ADDRESS: 5 Hanover Square, 9th Floor, New York, NY 10004
  • PHONE: (212) 457-4700
  • EMAIL:
  • WEBSITE: https://nff.org/

Description:

NFF works toward a more just and vibrant society through: financing that helps nonprofits and social enterprises expand opportunity in low- and middle-income communities; consulting that helps nonprofits and funders connect money to mission and community impact; partnering with service providers, funders, and investors to turn money and goodwill into positive outcomes; and learning that shares experiences and expertise – from ideas to anecdotes to cutting-edge data and analysis. Nonprofit Finance Fund® (NFF®) works toward a more equitable, responsive, and valued social sector. We provide financing and consulting to help nonprofits and their funders better connect money to mission results. Since 1980, we have provided $942 million in financing and access to additional capital in support of over $2.8 billion in projects for thousands of organizations nationwide. To support the supply of affordable and flexible capital to charter schools, NFF works to support flexible loan terms to high-capacity schools serving low-income families that cannot meet their facilities needs with traditional financing products. Our products include one or more of the following features: (a) equity requirement of 0 - 10%; (b) Below market interest rate pricing. Typically less than 7.5%; (c) Loan-to-Value (“LTV”) exceeding 90% on acquisition, construction and construction converting to permanent loans; Flexible collateral requirements for leasehold improvements; (e) subordinate debt to serve as the equity gap required by senior lenders and lower the overall cost of borrowing; (f) capitalized interest payments on predevelopment loans, and extended interest only periods on construction loans and construction converting to permanent loans; (g) amortization periods of up to 25 years on construction converting to permanent and permanent financing loans; (h) available to schools in their first three years of operation or those that have not been through a charter renewal; (i) loan terms that extend past charter renewal; (j) available to independent charter schools (not part of a CMO network); (k) no guaranty fee, typically 1%, at closing credit enhancement fee.

No facilities transaction data is available at this time.

States:

Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, District of Columbia, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin, Wyoming

Office of the State Superintendent of Education - District of Columbia

Credit Enhancement Available 
Yes

Contact:

Office of the State Superintendent of Education - District of Columbia

Credit Enhancement Available 
Yes

Contact:

Description:

The Office of Public Charter School Financing and Support (OPCSFS) was created in the FY 2003 Appropriations Act. The OPCSFS manages several programs for public charter school facility financing, including the Revolving Direct Loan Fund, the Revolving Credit Enhancement Fund, the Scholarships for Opportunity and Results (SOAR) Act Public Facilities grant, and the Charter School Incubator Facility Initiative. In addition, the OPCSFS manages the District’s federal Charter Schools Program grant from the United States Department of Education, which funds the start-up and implementation of new public charter schools.

No facilities transaction data is available at this time.

States:

District of Columbia

Raza Development Fund

Credit Enhancement Available 
Yes

Contact:

Raza Development Fund

Credit Enhancement Available 
Yes

Contact:

Description:

Raza Development Fund was formed with the intention of creating financing solutions for Latino serving organizations in the areas of affordable housing, education, health care, social services, and small business. RDF was formed with the strong conviction that the stewardship of dollars loaned, and the technical support given to organizations, would have measurable impact on Latino families. We have supported the charter school sector through a range of lending products, including: Acquisition, Bridge, Pre-Development, Construction, Mini-Perm, Term, Working Capital, and NMTC Leverage Loans. We are proud of our pioneer status in charter school lending and will continue to play a role in providing families with choice to failing schools.

No facilities transaction data is available at this time.

States:

Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, District of Columbia, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, Tennessee, Texas, Utah, Virginia, Washington, Wisconsin, Wyoming

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