2024 Credit Enhancement

About this funding opportunity

The program is to award grants to eligible entities that help charter schools address the cost of acquiring, constructing and renovating facilities by enhancing the accessibility and availability of loans and bond financing. The program provides grants to eligible entities to permit them to enhance the credit of charter schools so they can access private-sector and other non-Federal capital in order to acquire, construct and renovate facilities.

The federally-funded Charter School Facilities Credit Enhancement Grant Program was created from a $20 million grant awarded in 2023 through the federal “Expanding Opportunity through Quality Charter Schools Program- Credit Enhancement (CE) Program” (ALN#84.354A) grant competition in 2023. This program provides grants to fully or partially fund debt service reserve accounts on bond transactions issued through the Authority. The grant is intended to reduce the overall cost of borrowing for charter schools as it eliminates the need to fund the reserve through bond proceeds.

Topic areas: Education and Training, Public Policy and Governance.

Funding amount

This grant provides Varies in funding.

Deadline

Applications are accepted on a rolling basis; there is no single fixed deadline.

Who can apply

This opportunity is open to the following applicant types:

• NGOs
• Public Authorities

Eligibility

Please refer to https://www.treasurer.ca.gov/csfa/enhancement/use Funds are available to charter schools operating in the state of California.

Agency

2024 Credit Enhancement is administered by State Treasurer's Office (STO), listed via State Treasurer's Office.