The Office of the State Superintendent of Education (OSSE) administers Direct Loan and Credit Enhancement revolving funds to provide financing to help public charter schools renovate, construct, acquire, or maintain their facilities. This financing, provided through OSSE’s Office of Public Charter School Financing and Support (OPCSFS), helps to create appropriate, safe and economically efficient environments for the provision of high-quality education in public charter schools.
Public charter local education agencies (LEAs) or nonprofits authorized to secure financing on their behalf may apply for a direct loan of up to $2 million and/or a credit enhancement of up to $1 million to support facilities projects. Direct loans are used to directly pay for project costs whereas credit enhancements are guarantees held by the OPCSFS that help the public charter LEA to secure additional financing for facilities projects from other sources. These programs offer competitive interest rates and favorable terms which make OPCSFS Direct Loan and Credit Enhancement revolving funds attractive options to public charter LEAs in the District.
The Direct Loan and Credit Enhancement Revolved Fund is authorized by the District of Columbia Appropriations Act of 2003 (Public Law No: 108-7, Section 143).
For questions or additional information, please email [email protected].
The Direct Loan and Credit Enhancement Program is administered by OSSE’s Office of Public Charter School Financing and Support (OPCSFS) within the Division of Systems and Supports, K-12.
[Publication Date: Dec. 7, 2022]