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Charter School Lending

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Stories:

Financing charter schools in Baltimore and Washington, DC.

Resources:

Charter School Facilities Resource Guide

TRF has been financing charter schools since 1997.  Loan funds are available to finance facility projects, including acquisition, renovation, construction, leasehold improvements and energy efficient building enhancements throughout TRF’s footprint in Pennsylvania, New Jersey, Maryland, Delaware and Washington, D.C. 

Charter schools are public schools that receive funding from public sources but must locate and finance their own buildings.  With an appreciation for the critical role that quality schools provide in low-income areas, TRF was one of the initial leaders in lending to charter schools in the region.  TRF remains a creative and reliable source of capital for this still growing market.

As of June 2010, TRF has closed more than $184 million in loans to 64 charter schools that together educate 30,000 students.  The majority of these students qualify for free or reduced-price lunch per Title I guidelines.

TRF’s lending activity is supported by a variety of flexible and patient capital sources.  TRF is the recipient of credit enhancement grants from U.S. Department of Education that allow TRF to make loans with higher risk profiles, such as sub-debt or leasehold financing.  TRF has also allocated significant portions of its New Markets Tax Credits for charter school facility financing, making it possible for TRF to provide larger loans with favorable terms.  TRF Energy finances and offers incentives for energy efficient building systems.

In addition to financing, TRF’s charter school borrowers benefit from TRF’s expertise and experience with additional services such as guidance in planning energy efficient upgrades and reducing energy costs as well as technical assistance regarding project feasibility. For more information, view our schools and energy brochure.

For information on applying for charter school financing, view TRF’s charter school lending guidelines or download a charter school facility loan application.

For additional information on charter school financing, contact Sara Vernon Sterman of TRF at CommunityFacilities@TRFund.com or 215-574-5800.