Founded in 2008 to access secondary market financing for charter schools, The Charter School Financing Partnership (CSFP) is a collaboration between HPN and five members who are leading lenders to charter schools and other community facilities that foster economic opportunity.
The consortium of members awarded HPN a $15 million ED credit enhancement grant and formed the Charter School Financing Partnership to deploy the grant under Housing Partnership Network’s management.
Charter School Financing Partnership has deployed more than $14.5 million in credit enhancements, leveraging more than $165 million in financing for schools serving over 6,600 students in under-served communities.
In 2016 CSFP began recycling credit enhancement dollars in a new transaction to support the expansion of one of its portfolio schools, Hmong College Prep Academy in St. Paul, MN. CSFP provided a financing to allow the school to add 800 new seats. The project includes a new wing to the existing school building, the reconfiguration of existing space, and the addition of recreational facilities and parking on a newly acquired lot across the street.
The schools are located in Arkansas, California, Massachusetts, Michigan, Michigan, New Jersey and New York.