This program is tailored for charter schools like yours that are in need of short-term funding while waiting for long-term financial solutions. By applying, you gain access to essential financing options that can help with immediate operational expenses such as facilities, equipment, or other critical needs. This means you can focus on your educational mission without the burden of financial delays holding you back.

Furthermore, the program offers flexibility with repayment requirements. With no strict payback timelines, you can better manage your cash flow, allowing you to invest your resources where they matter most—enhancing the learning experience for your students.

By getting approved, you’ll benefit from a seamless process that provides quick access to funding when you need it. It's designed to be straightforward and accessible, ensuring you can concentrate on what you do best: running your school and supporting your students' growth.

Type of Financing
The financing offered through this program is short-term interim loans. These loans help charter schools that have already reserved funds through the Charter School Facilities Program.

Repayment Terms and Interest Rates

• Repayment Term: Typically, these loans are designed to be paid back within a short time frame, usually within one to three years.
• Interest Rates: Interest rates are usually competitive and can vary based on market conditions. Be ready to negotiate based on your specific situation and needs.

Eligible Expenses
The funds can be used for various essential expenses, including:

• Facility renovations or improvements
• Equipment purchases
• Operational costs necessary for school functions

Ineligible Expenses
Keep in mind that funds cannot be used for:

• Personal expenses unrelated to school operations
• Debt consolidation
• Expenses incurred before the loan agreement

Fees
There might be minimal fees associated with processing the loan. Make sure to ask about any expected fees during the application process to avoid surprises later on.

By understanding these key financial details, you can make a well-informed decision about utilizing this valuable funding opportunity.

• Type of Business: Must be a charter school.
• Fund Reservation: Must have received a reservation of funds through the Charter School Facilities Program.
• Location: This program is available in all sectors.
• Employees: No minimum or maximum number of employees required.
• Company Revenue: No minimum or maximum revenue qualifications.
• Legal Structure: All legal structures are applicable.
• Profit Structure: All profit structures are applicable.

Disqualifications:

• Businesses that are not charter schools do not qualify.

You can access short-term financing through this program, specifically designed for charter schools like yours that are waiting for longer-term funding. This can help you manage cash flow challenges while you await your permanent funding solution.

The funding can support various expenses crucial to your operations. Whether it's for facilities, equipment, or other immediate needs, this program allows you to keep moving forward without the stress of financial delays.

There are no strict payback requirements, meaning you can focus on enhancing your business rather than worrying about imminent repayment. This flexibility is designed to give you peace of mind as you grow and strengthen your educational efforts.