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Charter Access Bank Loan Enhancement Program (Charter ABLE)

Grantor:
State Treasurer's Office
Portal ID:
141402
Status:
Active
Open Date:
3/30/21 00:00
Opportunity Type:
  • Loan
Last Updated:
 | 
Categories:

Details

Purpose:

Aimed to assist charter schools lower costs to access facility acquisition, renovation, and construction financing. 

Description:

The federally-funded Charter Access to Bank Loan Enhancement (Charter ABLE) Program was created from an $20 million grant awarded through the federal “Expanding Quality Charter Schools Program – Grants for Credit Enhancement for Charter School Facilities” (CFDA #84.354A) grant competition in 2019. This program enhances financing to charter schools to lower costs associated with financings for permanent charter school facilities.

Eligibility Requirements

Eligible Applicants:

  • Nonprofit
  • Public Agency

Please refer to https://www.treasurer.ca.gov/csfa/enhancement/regulations/2024/program_regulations.pdf

Eligible Geographies:

Funds are available to charter schools operating in the state of California.

 

Important Dates

The date on which the grantor expects to announce the recipient(s) of the grant.
Ongoing
The length of time during which the grant money must be utilized.
Duration of Bond

Funding Details

The total projected dollar amount of the grant.
$20,000,000
A single grant opportunity may represent one or many awards. Some grantors may know in advance the exact number of awards to be given. Others may indicate a range. Some may wish to and wait until the application period closes before determining how many awards to offer; in this case, a value of “Dependent” will display.
Dependent
Grant opportunities representing multiple awards may offer awards in the same amount or in varied amounts. Some may wish to wait until the application period closes before determining per-award amounts; in this case, a value of “Dependent” will display.
Dependent
Certain grants require that the recipient(s) provide a letter of intent.
No
Certain grants require that the recipient(s) be able to fully or partially match the grant award amount with another funding source.
No
The funding source allocated to fund the grant. It may be either State or Federal (or a combination of both), and be tied to a specific piece of legislation, a proposition, or a bond number.
  • Federal

Funding Source Notes:

$20 million grant awarded through the federal “Expanding Quality Charter Schools Program – Grants for Credit Enhancement for Charter School Facilities” (CFDA #84.354A) grant competition in 2019.

The manner in which the grant funding will be delivered to the awardee. Funding methods include reimbursements (where the recipient spends out-of-pocket and is reimbursed by the grantor) and advances (where the recipient spends received grant funds directly).
  • Advance(s)

Funding Method Notes:

The term of repayment for any financing in conjunction with a program award shall not exceed the useful life of the financed asset. Awarded reservation of funds shall be released and returned to the Authority when the funds are no longer needed for the authorized purposes. Awarded reservations will expire if the charter school does not use the funds within six months of Authority approval.

How to Apply

State agencies/departments recommend you read the full grant guidelines before applying.

Resources

For questions about this grant, contact:
1-213-620-4608, csfa@treasurer.ca.gov

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