New Schools for Alabama (NSFA) has been awarded a $10.55 million Credit Enhancement Grant from the U.S. Department of Education, a tremendous step toward addressing the long-standing challenge of affordable facilities access for charter schools in Alabama. By enabling NSFA to guarantee a portion of loans to charter schools, this grant will not only increase access to low-cost financing but is expected to leverage up to $50 million in lending capital. This creates a sustainable model to support the growth of high-quality charter schools across the state.
This milestone, spearheaded by NSFA's Senior Advisor Chris Reynolds, will have a profound impact on the Alabama charter school sector. School leaders who have struggled to secure suitable facilities will now have greater opportunities to access affordable, well-structured loans. By tackling this critical barrier, NSFA empowers charter schools to provide safe, innovative learning environments and supports their continued expansion and success.
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