An additional catalyst for RDF's direct lending products, specifically tailored for subordinated financing purposes, empowering eligible charter schools to access low-interest subordinated financing

Active Project Grant Awarded Last action

Award ID
S354A240004
Recipient
Awarding agency
Obligated
$10,000,000

Award facts

Assistance listing
84.354 Credit Enhancement for Charter School Facilities
Completion date 8% complete
Place of performance
Phoenix, AZ 85004, USA

Award details come from USAspending.gov.

About this award

Written by GovTribe AI ·

This $10,000,000 federal Project Grant award was provided by the U.S. Department of Education's Office of Elementary and Secondary Education under the Credit Enhancement for Charter School Facilities program (CFDA 84.354). The grant was awarded to Raza Development Fund Inc. (RDF), a Phoenix-based nonprofit organization and Community Development Financial Institution, on October 1, 2024.

The purpose of this grant is to serve as an additional catalyst for RDF's direct lending products, specifically tailored for subordinated financing purposes. This will empower eligible charter schools to access low-interest subordinated financing to acquire, construct, renovate, or lease academic facilities. The grant funding will enable RDF to leverage private sector capital and support charter schools in underserved, low-income, and minority communities across the United States. The grant period will run through September 30, 2049.

Quick answers

Who received award S354A240004?

S354A240004 was awarded to Raza Development Fund Inc. by Office of Elementary and Secondary Education (Department of Education) on October 1, 2024.

How much is award S354A240004 worth?

$10,000,000 has been obligated on S354A240004.

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