CSDC and EFF partnership supports charter schools with high impact in underserved communities
WASHINGTON , Oct. 30, 2024 /PRNewswire/ — The Charter School Development Corporation (CSDC) and the Equitable Facilities Fund (EFF) are launching a groundbreaking new facility designed to provide flexible and affordable financing. We are proud to announce the launch of our lending fund, the Catapult Fund. Financing high-impact public charter schools that have traditionally been underserved by traditional financial institutions. This joint initiative leverages the expertise of both organizations to break down financial barriers for these unique public schools, particularly those led by leaders of color and those serving economically disadvantaged students. is.
CSDC and EFF
The Catapult Fund combines CSDC’s decades of experience in real estate development and charter school financing with EFF’s A-rated credit platform. This partnership provides schools with customized loan products for development, construction, and operations at significantly lower interest rates than other mission-based financial institutions.
Charter schools often face significant challenges in securing the funding needed to support growth and sustainability. Catapult Fund is tackling these challenges head-on by offering:
Customized Financing Solutions: The fund offers customized loan products for predevelopment, construction, renovation, and working capital. These products are not widely available on the broad market. Lower interest rates: The interest rates offered through Catapult Funds are significantly lower than comparable services, providing schools with significant cost savings. Focus on equity and impact: At least 50% of the Fund’s loans go to single schools led by leaders of color or schools where 65% or more of students qualify for free or reduced-price lunch. will be donated to.
“The Catapult Fund demonstrates the power of partnerships to multiply impact. We are breaking down barriers and addressing underserved communities,” said Alan Washington, president and CEO of CSDC. “We are committed to creating more equitable opportunities for local schools to thrive.” “By leveraging our strengths and aligning our resources with EFF, we are giving schools the tools they need to build the facilities they deserve and improve educational outcomes for their students.”
Anand Kesavan, Founder and CEO of EFF, said: “Our partnership with CSDC through the Catapult Fund expands our ability to support schools facing challenges with traditional funding. “It will also expand our ability to help new and early-stage charter schools reach their potential.” “Equitable access to affordable capital has been and continues to be a major hurdle for charter schools. With this collaboration, we will ensure they have the financial support they need to succeed. Now we can provide
The Catapult Fund will prioritize lending to schools in areas with the greatest need, with an initial focus on Arkansas, Missouri, Nevada, and the North and Southeast. This focused approach provides maximum impact in communities where quality education options are most important.
Charter schools looking to unlock their potential with flexible and affordable funding are encouraged to consider the opportunities offered by the Catapult Fund. To learn more about how your school can benefit from this innovative funding solution, please visit www.csdc.org/service/finding/catapult.
About CSDC
Charter Schools Development Corporation (CSDC) is dedicated to removing barriers to educational access, choice, and equity in under-resourced communities by providing comprehensive financing and real estate solutions to educational facilities across the country. I’m working on it. For more information, please visit www.csdc.org.
About EFF
The Equitable Facilities Fund (EFF) is a 501(c)(3) nonprofit social impact fund that helps high-performing public charter schools maximize the resources they dedicate to their students. Established to provide facility loans. High-quality public charter schools promote bright futures for children across the country, and EFF believes these schools should receive funding on the same terms as traditional public school districts. EFF operates an “A” rated revolving loan fund. The Fund uses proceeds from the Equitable Schools Revolving Fund’s debt issuances to increase its capital and provides high credit quality, long-term and scalable debt investment opportunities. For more information, please visit www.eqfund.org.
For more information about the Catapult Fund, please visit www.csdc.org/service/finding/catapult.
For media inquiries, please contact us below.
Michelle Cerwin, (email protected), (917) 584-1346
SOURCE Charter School Development Co., Ltd.
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