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Location: Kansas City, Missouri
Loan Amount: $8.8 million
School Savings: $3.2 million
School Site: www.svncharter.org
Ratings Direct: Scuola Vita Nuova
Obligor Summary: Scuola Vita Nuova Obligor Summary
Founded in 1999, SVN serves 308 students in grades K-8 and has a mission to “provide a safe, healthy, collaborative community of engaged learners who are inspired academically while fostering a supportive network for its families.” The school’s committed teachers and leaders provide an exceptional educational option for families throughout Kansas City. 85% of SVN’s students are Black or Hispanic and 95% come from low-income backgrounds. They consistently outperform their wealthier peers throughout the district and state and, in 2019, SVN was recognized as Charter School of the Year by the Missouri Charter Public School Association.
EFF provided an $8.8 million loan to refinance existing debt and fund the construction of a new, state-of-the-art facility that will allow SVN to serve an additional 414 students. The school locked in a 30-year fixed-rate loan that will save them over to $3.2 million compared to alternative financing options.
“I can’t say enough how appreciative the SVN team is of the opportunity given to us by EFF and the Walton Family Foundation to complete this facility project for our students, family and community! It allows us to provide learning opportunities for our students on a more even playing field.”
–Mary Pittala, Director of Finance and Operations, SVN Charter School