The Charter School Revolving Loan Fund Program

Who can apply

NonprofitPublic Agency

Please refer to the Program Regulations, Section 10170.18. Eligible Applicant.

Where: Please refer to the Program Regulations, Section 10170.20 (d) . Application Review and Evaluation/Underwriting Criteria.

Purpose

The Charter School Revolving Loan Fund Program provides low-cost loans of up to $250,000 to charter schools

Description

The Charter School Revolving Loan Fund (CSRFL) Program provides low-cost loans of up to $250,000 to charter schools, with priority given to schools opening in the current fiscal year. The Authority conducts extensive credit evaluations, makes funding recommendations, executes loan agreements, creates payment schedules, disburses funds, offsets loan payments, collects delinquent or defaulted loans, and develops program fund reconciliations and projections. The Authority sends out a Listserve to announce the opening and closing of the application period.

Important dates

Opened

Jul 1, 2013

Application deadline

Ongoing

Expected award announcement

Pending

Period of performance

Up to a 5 year loan

Funding details

Total estimated available

$25,000,000.00

Estimated amount per award

Between $100,000.00 and $250,000.00

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

The Program was originally funded as a onetime appropriation in the early 2000’s. Since then, the fund is dependent on the repayment of loans and interest awarded by the Authority, to replenish the account.

Funding method

Advance(s)

Funding method notes

The first of two potential loan disbursements, is up to a maximum amount of 40% of loan amount. The subsequent disbursements of the remaining 60% will occur once California Department of Education certifies the applicant’s attendance (P1 Average Daily Attendance Report), typically in mid to late March.

How to apply

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

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

Questions about this grant: email: [email protected]; tel: 1-916-651-7710;