I agree with Otho, in Delaware, my non-profit organization (Innovative Schools Development Corporation, ISDC) with the assistance and guidance of Peter Svahn and Charter FS Corporation, established a loan guaranty program.
Through this program ISDC works with charter schools and local banks to help secure 100% financing deals. ISDC then guarantees an equity share of the deal so the bank feels comfortable lending to the school. ISDC also provides oversight to the school in relation to key business indicators.
The fund is currently funded with money from local foundations. ISDC was established in July of 2002 and currently has two guarantees in place. We are looking to build the fund in order to increase capacity.
Our two deals allowed the Newark Charter School to build a new 58,000 sf facility to house a middle school (grades 5 through 8) and the Delaware Military Academy to close on the second of two buildings to house its Jr. ROTC High School. Both schools employ sound fiscal oversight and are over-subscribed.
Posted as a reply to:
Facilities by Otho Tucker 
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