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EFF Provides $14.4M Long-Term, Low-Cost Loans to Scuola Vita Nuova and Brookside in Kansas City: Saves School Over $4M in Interest to Spend on Teaching and Learning

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August 10, 2020


EFF is proud to announce the closing of loans to two of Kansas City’s highest-performing public schools: Scuola Vita Nuova (SVN) and Brookside Charter School. SVN and Brookside will use $8.8 million and $5.6 million, respectively, to refinance existing debt and finance new facilities that will support high-quality education options for families in Kansas City. The 30-year, fixed-rate loans will save the two schools approximately $4 million in interest payments, providing more money to support students and teachers. We are grateful for our exceptional funders, investors, and especially SchoolSmartKC and the entire Kansas City community for making these high-impact partnerships possible.

Fueled by our mission to provide equitable access to low-cost financing for all great public charter schools, EFF financed these loans amidst one of the most tumultuous times in memory for schools and the capital markets. 

We are especially proud of the **commitment to equity **at these two schools that provide a high-quality free, public education to predominantly Black and Hispanic students from low-income neighborhoods. SVN was recognized as the 2019 Charter School of the Year in Missouri and Brookside’s Superintendent, Roger Offield, was recognized as 2019 Charter School Leader of the Year in Missouri. EFF is humbled to play a small part in both schools' success.

You can read more on EFF's partnership with schools here.

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