2024 Credit Enhancement

Who can apply

NonprofitPublic Agency

Please refer to https://www.treasurer.ca.gov/csfa/enhancement/use

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

Purpose

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.

Description

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.

Important dates

Opened

Oct 1, 2024

Application deadline

Ongoing

Expected award announcement

Ongoing

Period of performance

Duration of Bond

Funding details

Total estimated available

$20,000,000.00

Estimated amount per award

Dependant on number of submissions received, application process, etc.

Expected number of awards

Dependant on number of submissions received, application process, etc.

Letter of intent required

No

Matching funds

Not Required

Funding source

Other

Funding source notes

U.S. Department of Education’s Credit Enhancement for Charter School Facilities Program (ALN 84.354A) • $20 million awarded in 2023

Funding method

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

Read the full guidelines on the grantor's site, then apply there. Nothing is submitted through this site.

Submission: url: https://www.treasurer.ca.gov/sites/default/files/2025-11/credit-enhancement-application.pdf

• Grant guidelines & application ↗
• State Treasurer's Office ↗
• Grantor's own update list ↗
• Original listing on grants.ca.gov ↗

Questions about this grant: name: Katrina Johantgen; email: [email protected]; tel: 1-213-620-4608;