In addition to financing affordable housing development, Housing Partnership Network members are the leading lenders to charter schools and other community facilities that foster economic opportunity and revitalization.
Founded by five member CDFIs - NCB Capital Impact, Low Income Investment Fund, The Reinvestment Fund, Raza Development Fund, the Community Reinvestment Fund and the Housing Partnership Network - the Charter School Financing Partnership (CSFP) is a groundbreaking vehicle that aggregated capital and the strength of member lending to access secondary market financing for charter schools that serve disadvantaged students and communities. The first large-scale collaboration among a group of CDFIs, CSFP has been recognized for its innovation and supported by key funders such as the U.S. Department of Education ($15 million) and the Walton Family Fund ($5 million).
Since November 2010, CSFP has committed support to ten charter school facilities originated by Network members NCB Capital Impact, the Low Income Investment Fund, Community Reinvestment Fund and The Reinvestment Fund in New Jersey, New York, Massachusetts, California, Minnesota, Arkansas and Michigan. This represents almost $20 million in credit enhancements from CSFP which in turn leverages almost $158 million of financing for schools serving over 7,300 disadvantaged students from low-income communities.
For more information, contact Rebecca Regan.