Project Acceleration Notes and Credit Enhancement Alternatives

The Project Acceleration Notes and Credit Enhancement Alternatives (PANACEA) Program provides short‑term interim financing to California public charter schools that have secured or are awaiting long‑term funding through the Charter School Facilities Program or the Authority’s Conduit Bond and Note Financing Program. The loan is held in trust, advances are made directly to the school, and funds must be used to purchase, construct, or renovate charter school facilities. No matched funding or letter of intent is required, and the program is funded by a federal grant (U.S. Department of Education). • Eligible applicants: nonprofit and public agency charter schools in California • Funding available: up to $8 million total, with awards ranging from $0 to $1 million each (number of awards dependent) • Loan terms: “Term of the Loan” (specific duration not defined) • Funding method: advance held in trust; must close financing within six months of approval or the reservation expires • No pre‑bid meeting, site visit, or formal submission deadline listed; the program is ongoing.