Nonprofit Provides Charter Schools Damaged by Hurricane Ian Expedited, Low Interest Loan Funds Up to $100,000 per School With No Fees And No Collateral
Building Hope, a non-profit foundation dedicated to creating high-quality K-12 charter school opportunities for students through its expertise in real estate, finance and operational services, today announced the creation of an expedited loan product to help fund immediate charter school facility needs due to the catastrophic flooding and damage caused by Hurricane Ian.
“Our thoughts are with those who are suffering during this difficult time,” said President of Building Hope Services Richard Moreno. “We are releasing immediate resources to charter schools impacted by the storm, so schools can quickly begin the work of rebuilding facilities to continue to build hope in their communities by providing quality, innovative education for their students.”
In immediate response to the Hurricane Ian, Building Hope is poised to offer impacted charter schools financial assistance in the form of a Hurricane Assistance Loan up to $100,000.
“A bridge loan provides immediate funds, while schools wait for FEMA or insurance carriers to process claims and provide reimbursements,” said President of Building Hope Finance Robin Odland.
The loan has a 3% interest rate, a 24-month repayment term, and is payable monthly via ACH. There are no loan fees and charter schools do not need to provide collateral.
The loan application is available at Building Hope’s website. Charter school applicants can expect a response in 1-2 business days once the full application is submitted. Questions can be emailed to President of Services at Building Hope Richard Moreno at rmoreno@bhope.org.
About Building Hope
Building Hope is a non-profit foundation created to support public charter schools. Since 2003, Building Hope has grown the capacity of charter schools nationwide by providing facilities, financial, and operational services, so schools can focus more time and resources on educating students. Building Hope has supported 300 charter school projects and 150,000 students in 20 states and the District of Columbia, by providing more than $363 million in direct loans, credit enhancements, and equity investments to support $1.9 billion in school construction.
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