In January the California State Finance Authority (CSFA) opened the 2015-16 application window for Charter School Revolving Loan Fund (CSRLF). The Charter School Revolving Loan is a program operated by the CSFA that allows first or second year charter schools to apply for a low interest loan.

Loans are disbursed in $250,000 awards and for the 2015-16 fiscal year the fund is awarding a total of $9 million in loans.  That means up to 36 charter school’s will be eligible to receiving loan proceeds.

The CSRLF is a very advantageous program that newly developed charter schools should apply for as the loan proceeds provides up front capital of $250,000 and the interest rate is less than 0.50% (Awardees for the 2014-15 year had varying interest rates between 0.24% and 0.30%).

As part of the application form, charter schools can select loan repayment terms, which vary from 1-5 years.

Applications are due to the California State Finance Authority by February 24th, 2016.

More information can be found here – http://www.treasurer.ca.gov/csfa/csrlf/index.asp