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Location: Little Rock, Arkansas
Loan Amount: $18.0 million
Savings Amount: $3.2 million
School Site: www.lisaacademy.org
Ratings Direct: LISA Academy
Obligor Summary: LISA Academy Obligor Summary
Founded in 2004, LISA Academy (“LISA”) serves 3,342 students in grades K-12 across seven campuses in Little Rock, Arkansas. The school’s mission is to provide an academically rigorous college preparatory program, in partnership with students, families, and the community, and guide all students in gaining knowledge, skills, and the attitude necessary to direct their lives, improve a diverse society, and excel in a changing world by providing dynamic, resource-rich learning environments. LISA’s schools all offer Science, Technology, Engineering and Mathematics (STEM) focused curriculum and a college preparatory program for its students. LISA has organized and hosted the annual Arkansas STEM Festival for seven years now, which invites over two thousand public school students to compete. The devoted faculty and staff at LISA work towards enabling students to succeed in school and in the workplace, and to provide an option for students to enter math, science and engineering careers. With the dedication behind their STEM curriculum, LISA has consistently outperformed the district in ELA and Math proficiency rate, while boasting a strong 100% graduation rate and 95% college-acceptance rate. LISA been also nationally recognized as the Most Diverse School District in the state of Arkansas, as families speak more than 35 languages. The student body population is made up of 80% students of color, and 61% of students are from low-income families.
EFF provided a $18.0 million loan to purchase two of LISA’s existing leased facilities from the current leasing company. The 35-year fixed-rate loan will produce over $3.2 million in savings compared to alternative financing options.
"We are very happy to partner with EFF. As a result of the low-interest long-term loan provided by the EFF, the state budget allocated for student education will be used most productively. Thus, as educators, we will be able to focus more on education and further improve the quality of education by using the available opportunities in the most effective way. We are grateful to EFF for its understanding and caring support in educating the Little Scholars of Arkansas"
**Dr. Fatih Bogrek, CEO & Superintendent, LISA Academy **