It’s hard to believe the Charter Schools Development Center’s “Leadership Update” Conference is next week! Held in San Diego,CA November 16-17, the event is designed to provide California’s charter school movement with the skills and knowledge needed to thrive during the school year ahead. This year’s event will undoubtedly promote thought-provoking content on the latest charter issues.
I am genuinely looking forward to meeting with charter leaders and members of the charter community again at this years conference. If you have the time, I’d encourage you to stop by our table and say hello. As Charter School Capital’s California funding specialist, I love speaking with charter school leaders on funding and facility needs – but also any educational or how-to content we can provide.
Charter School Capital has been providing financial solutions for working capital and facilities financing to the charter community in California for over a decade. In fact, we have now provided over $1.6B in financing to over 600 charter schools serving over 650,000 students nationally. Since our entire business is 100% focused on charters, we truly have the experience and the focus to solve some of the unique financial challenges charter schools face. Running a charter school comes with some unique business challenges and we seek to understand the whole picture of a school’s operations and look for a way to solve those challenges collectively with the school. Here are a couple examples:
- Many times new and expanding charters will face cash flow crunches in the early stages of the year. New schools do not receive their first principal apportionment payment sometimes until the first week of October and, unless they have a start up grant or some philanthropy, they may not have the cash on hand to open the doors for the start of the school year. Expanding charters with increasing enrollments, either by adding grades or straight organic growth will have the challenge of cash flow crunches in P1 until the state catches up with payments in P2. In. In both situations Charter School Capital has helped many charters throughout California over the years receive the necessary funds in time to open the doors or balance the cash flow issues during these times.
- Another area that Charter School Capital has been helping charters in California is with unique facilities financing solutions. Proposition 39 space is an ongoing challenge for many charters in California. The uncertainty of available, equitable space continues to be a point of contention for charters and their authorizing districts. Reapplying year after year for district provided space can be time consuming and create a lot of uncertainty for potential parents and students enrolling in the schools. The space often does not provide enough parking, access to labs, libraries, and outside space. While colocating on the same campus with district schools poses a bevvy of other issues. At Charter School Capital we provide the opportunity for charters to acquire properties that will allow for expansion in a permanent facility knowing they have full control of the property. And they don’t have to become real estate experts over night or become landlords. They can focus on teaching kids while Charter School Capital provides a long term lease with no out-of-pocket expenses, while also collecting SB740 money. If the school ultimately wants to use bond financing long term that is an option too. Either way, the schools can make this dream a reality today without having multiple renewals or deep reserves.
I hope you will stop by the table to introduce yourself. I look forward to the chance to meet with you and hear about the wonderful things that you organization is doing for California students. I want to know your story and learn more about how we may be of service.
If you’d like to set up time in advance to discuss your school’s vision and funding or facility needs, email us at email@example.com and we’ll get something on the books. Safe travels and I look forward to seeing you there!