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At Equitable Facilities Fund (EFF), we’re committed to empowering high-performing charter schools by providing low-cost, long-term facility financing. Today, I’m pleased to announce the recent closing of a 30-year, fixed-rate loan to Alliance College-Ready Public Schools. Our $27M partnership will save the high-performing school network more than $5M over the life of the loan.
Alliance operates 25 middle and high schools that educate nearly 13,000 students in Los Angeles’ most underserved communities, and ninety-five percent of the network’s graduates have been accepted to college.
“As we assessed options to consolidate a number of out-standing existing maturities, EFF provided an opportunity for lower transaction costs and reduced borrowing rates, which will provide our schools with greater resources for scholars and staff,” said David Lauck, Alliance’s Chief Business Officer, adding: “It has also been a great opportunity to work with a genuine thought partner who is committed to improving outcomes in our schools and communities."
EFF is proud to partner with Alliance and other schools that are creating opportunity for students across the country.