How much funding does Credit Enhancement Grant (Facilities Access) provide?

Credit Enhancement Grant (Facilities Access) provides $10,550,000 in funding.

When is the deadline for Credit Enhancement Grant (Facilities Access)?

The funder has not published a deadline for this grant.

How often is Credit Enhancement Grant (Facilities Access) offered?

Credit Enhancement Grant (Facilities Access) is described as a one-time opportunity.

Credit Enhancement Grant (Facilities Access)

New Schools for Alabama

Foundation One-time Grants for Charter Schools Grants for Education Grants for Capital Funding

Funding Amount

$10,550,000

Deadline

Deadline not published

Grant Type

Foundation

Deadline history & next window

Cycle: One-time opportunity
Tracked since: April 2026

Source: the cycle recorded on this listing. Confirm dates with the funder.

Overview

Credit Enhancement Grant

A substantial grant from the U.S. Department of Education awarded to New Schools for Alabama to address the critical challenge of affordable facilities access for charter schools in Alabama.

Funding Source: U.S. Department of Education

Award Date: October 2024

Geographic Scope: Alabama

Purpose:

Guarantee a portion of loans to charter schools
Increase access to low-cost financing for school facilities
Create sustainable model for supporting charter school growth
Enable charter schools to access affordable, well-structured loans

Expected Impact:

Expected to leverage up to $50 million in additional lending capital
Addresses long-standing barrier of affordable facilities access
Supports growth of high-quality charter schools across the state
Enables schools to provide safe, innovative learning environments

Key Features:

Credit enhancement mechanism (loan guarantees)
Sustainable financing model
Access to low-cost capital for school facilities
Support for expansion of excellent charter schools

Project Leadership:

Spearheaded by: Chris Reynolds, Senior Advisor to NSFA

Organization Background: New Schools for Alabama is a 501(c)(3) nonprofit, public charity organization created to serve kids in Alabama. The organization supports the growth of excellent public charter schools in Alabama to ensure that every child has access to a quality public education.