CAM offers programs to charter schools for facilities financing providing access to capital for real estate acquisitions, facilities, improvements, and construction.
CAM’s facilities financing are term loans with delayed draw options. The terms are typically one to two years with a variable interest rate based on the underlying prime rate. The amortized longer than the loan period to adjust for debt service levels. CAM is secured via a first deed of trust and other school assets.
CAM is not a long-term facilities lender. The purpose of our facilities loans is to allow schools to acquire property quickly or build efficiently. CAM’s loans are designed to be refinanced after one or two years by a public bond issuance or another commercial lender.
An Overview of the Application Process
- CAM will conduct our own appraisal for the valuation of the property and conduct other assessments such as Phase I environmental assessments, zoning, and condition assessments as needed.
- We suggest having a facilities plan that is in line with your growing enrollment numbers before you apply for charter school facilities financing. Make sure that plan meets the needs of your growing school.
- After you take the first step in applying for a loan for your building or renovation, our professional team of experts will reach out to you to discuss the details.
- We will then proceed with loan agreements and set up accounts to further the process.
- As we prepare to close, we finalize the agreements, borrowing base, and compliance items.
- When all these steps are taken, we will begin the closing process, which could take anywhere from two to four weeks.
Talk to A Financing Expert for School Building and Renovations
CAM knows that financing for your charter school’s buildings and renovations is critical for your school’s future. This program is one of the most economical methods for a charter school to receive facilities financing. You can apply either on our website or by speaking with our professional team. Talk to us about how this program could fund the improvements your institution needs.