Bridge to bond financing for charter schools facilities nationally

The U.S. Department of Education's Office of Elementary and Secondary Education awarded a $20 million Project Grant on October 1, 2025, to 22 Beacon, Inc. (doing business as Charter Schools Development Corporation) under the Credit Enhancement for Charter School Facilities program (CFDA 84.354). The award funds a reserve account that will be deployed to enhance credit availability for charter schools nationwide by guaranteeing and insuring debt and leases used to finance facility acquisition, construction, renovation, and improvement projects. By reducing risk to lenders through credit enhancements such as loan guarantees and debt reserves, the program enables charter schools—particularly those serving underserved and low-income communities—to access favorable financing terms and lower borrowing costs for critical facility needs.

As a Community Development Financial Institution (CDFI) headquartered in Hanover, Maryland, 22 Beacon, Inc. leverages its specialized expertise in charter school finance and community development to bridge the gap between charter schools seeking capital and private lending markets. The grant award carries a 25-year performance period through September 30, 2050, consistent with the program's standard award duration. This represents the organization's second major Credit Enhancement award under the program, reflecting its demonstrated capacity to administer federal funds and support facility financing for charter schools nationally.