Many charter schools experience rapid growth, sometimes over 100% within the first few years. The timing of school funding in Louisiana, however, can leave schools without adequate funding for a short period of time (6-12 months) during the school year. As local, state, and federal funding represents approximately 90% of a charter school’s revenues, new schools that have not built up reserve capital can be deprived of increased enrollment opportunities and reimbursement-only grants. The $2 million Louisiana Charter Schools Bridge Loan Program is a unique partnership between the nonprofit lender Building Hope (www.buildinghope.org), the New Orleans School Facility Project, and the Louisiana Association of Public Charter Schools (www.lacharterschools.org) to help quality charter schools bridge the gap so that schools are able to continuously provide their students with all the tools they need to be successful despite the short term gap in funding.

What are the benefits of the Building Hope/LAPCS Bridge Loan Program?

• 4% (below-market) fixed interest rates
• Average loan size of $150,000 (flexible) for up to 12 months (flexible) to cover delays in reimbursements of start-up grants
• Lenders who understand the unique challenges facing Louisiana charter schools
• Finance technical assistance from Building Hope to help your school figure out your needs
  **Early repayment options can be discussed with Building Hope at time of execution

To participate in the Bridge Loan Program, a school must:

• Submit a $500 non-refundable application fee, payable to Building Hope
• Have sound financials, strong academics, and a strong management team
• Meet projected student enrollment numbers
• Be a member of the Louisiana Association of Public Charter Schools
• Loan readiness and approval is determined by Building Hope. Member schools must apply using the intake form, and only Building Hope (not the Association) will be conducting evaluations.
• Be a non-selective enrollment school

Process:

• Schools must dowload and complete the Building Hope intake form (PDF). Email the completed application to Andrea
  Chen at This e-mail address is being protected from spambots. You need JavaScript enabled to view it and Kathleen Padian at This e-mail address is being protected from spambots. You need JavaScript enabled to view it or mail the loan application to:
  Andrea Chen
  Louisiana Association of Public Charter Schools
  5500 Prytania Street, #126,
  New Orleans, LA 70115
• We will review school academics and financials and secure evidence of guarantees on incoming federal/state funding
• Once all documents are filed, school can expect a turnaround time of approximately 30 days or less
• This program is first-come, first-serve; we anticipate being able to serve approximately 10 schools
• Applications for the Bridge Loan Program and LAPCS membership can be accessed by contacting Andrea Chen at This e-mail address is being protected from spambots. You need JavaScript enabled to view it , 504-274-3651.