This program opens up a world of possibilities for businesses involved in the education sector. With 50% of the funding available as grants, you won’t have to pay back half of what you receive. This means you can invest in constructing new facilities or rehabilitating existing ones with significantly less financial strain. The total budget of $1.4 billion provides ample resources that can elevate the educational environment for students while helping your business grow.

Applying for this program is straightforward and accessible, with no minimum revenue requirements. This flexibility allows your business to expand operations without the weight of overwhelming debt. By being approved, you’re not just securing funding; you’re taking a step toward enhancing your service offerings and solidifying your place in the educational community. It’s a fantastic chance to make a true impact while benefiting your bottom line.

Type of Financing

This program offers a combination of 50% grant and 50% low-cost loan. This means that half of the funding does not need to be repaid, while the other half comes with favorable loan terms.

Repayment Terms and Interest Rates

The loan portion typically features low interest rates, making it affordable for charter schools. Terms for repayment may vary, but generally, they are designed to be manageable, often with longer repayment periods to ease the financial burden on your school. Exact terms will be provided during the application process.

Eligible Expenses

Funds from this program can be used for:

• Construction of new permanent school facilities
• Rehabilitation of existing school district facilities

Ineligible Expenses

Please note, funds cannot be used for:

• Operational costs
• Non-facility related expenses

Fees Associated

There may be minimal fees linked to application processing and administration, but these are kept low to ensure access for all qualifying charter schools.

This program offers low-cost financing specifically for charter schools, which is a fantastic opportunity for your business if you are involved in the education sector. You can receive 50% as a grant and 50% as a loan, which means you won’t need to pay back half of the funding you receive. The total budget for this program is a staggering $1.4 billion, so there’s significant money available to help you with construction of new facilities or the rehabilitation of existing ones.

The funds can be used to develop permanent school facilities that enhance the learning environment for students. Whether you need to build a brand-new space or improve an existing school district facility, this money is designed to support you.

With no minimum revenue requirements and a flexible structure that applies to all types of businesses, this program is accessible. It can help you grow and expand your operations without the burden of heavy debt. If you qualify, this funding could be a game changer for your business and the educational community you serve.