The Department of Education (Department) is issuing a notice inviting applications for 2023 for Charter Schools Program (CSP)—Grants for Credit Enhancement for Charter School Facilities (Credit Enhancement).
Donor Name: Department of Education
State: All States
County: All Counties
Type of Grant: Grant
Deadline: 06/26/2023
Size of the Grant: $20,000,000
Details:
Purpose of the Program
The Credit Enhancement program provides grants to eligible entities to demonstrate innovative methods of helping charter schools address the cost of acquiring, constructing, and renovating facilities by enhancing the availability of loans and bond financing.
The Credit Enhancement program provides grant funds to financial institutions to enhance the credit of charter schools so they can access private and non-federal capital to finance facility projects and pay affordable interest rates. Access to capital via the Credit Enhancement program allows participating charter school leaders to focus on the educational mission while the Credit Enhancement grantees focus on the business of financing, designing, and constructing a facility built to suit the unique needs of the school model, student population, and budget. Access to high-quality school facilities is an essential component of providing equitable, high-quality education to all students.
Funding Information
- Estimated Available Funds: $50,000,000
- Estimated Range of Awards: $2,000,000 to $20,000,000
- Estimated Average Size of Awards: $11,000,000
- Maximum Award: Foundation will not award a grant for more than $20,000,000 for a grant project.
Eligibility Criteria
- Nonprofits that do not have a 501(c)(3) status with the IRS, other than institutions of higher education
- Special district governments
- City or township governments
- State governments
- County governments
- Nonprofits having a 501(c)(3) status with the IRS, other than institutions of higher education.
For more information, visit Grants.gov.