The Charter School Revolving Loan Fund Program

The Charter School Revolving Loan Fund 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 program is designed to support the development and operation of charter schools in California. Eligible applicants include nonprofit organizations and public agencies. The program has a total estimated available funding of $25,000,000, and the expected number of awards is dependent on the number of eligible applications received. The funding method is through advances, with the first disbursement of up to 40% of the loan amount and subsequent disbursements of the remaining 60% once the California Department of Education certifies the applicant's attendance. Key considerations for applicants include the program's eligibility requirements, the application process, and the funding terms. Some of the key points to consider are: • Eligible applicants: Nonprofit organizations and public agencies • Loan amount: Up to $250,000 • Funding method: Advances • Repayment terms: Up to 5 years • Interest rate: Not specified • Eligible uses of funds: Not specified, but presumably for charter school development and operation • Application process: Not specified, but presumably through the State Treasurer's Office • Deadline: Not specified