Charter School Revolving Loan Fund

Funding Description

The Charter School Revolving Loan Fund provides low-interest loans to new charter schools to help meet purposes established in the schools' charters. It serves California's public charter schools, including students, teachers, and staff.

Eligibility

Eligible Applicants	Nonprofit organizations, other organizations or agencies
Required Eligibility Criteria	Eligible applicants are start-up public charter schools whose locally approved charter petition has been numbered by the California State Board of Education. Eligible applicant charter schools can not be conversion charter schools, charter schools more than five years old, or charter schools renewed by their charter-authorizing entity.
Other Eligibility Considerations	Loan Applications may be submitted by any charter school meeting the Required Eligibility Criteria stated above; however, any loan approved for funding will not be scheduled for disbursement any earlier than six months prior to opening pursuant to Education Code Section 47652 (b), which in no case will be any earlier than January 1 of the calendar year in which they open.
Eligible Grade Level(s)	K, 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12
Eligible Age Level(s)	Not applicable

Funding

Legal Authority	Education Code Section 41365(a)
Source / Type	State / Apportionment
State Fiscal Year	2004-05
SACS Resource / Revenue Codes	0000 / 8979
Total Available	$13,785,538
Recipient Amount	$250,000 maximum
Match Requirement	No
Allocation Formula	Unavailable

Important Dates

Date Application Available	July 15, 2004
Due Date	June 30, 2005
Expected Notification Date	Unavailable

Additional Information

Application	Unavailable
Background	Charter School Revolving Loan Fund Information [http://www.cde.ca.gov/sp/cs/as/csrevloantoc.asp ]
Fiscal	Unavailable
Other	Eligible applicant charter schools that are incorporated can apply directly for a loan. All other eligible applicant charter schools must apply jointly with their charter-authorizing entities. Applications are accepted, and notifications are distributed, on a continuous basis.

Contacts

Program	Jacqueline Henderson, 916-324-7139, jhenders@cde.ca.gov
Fiscal	Jacqueline Henderson, 916-324-7139, jhenders@cde.ca.gov
Division	Charter School Division, 916-322-6029 (phone), 916-322-1465 (fax)