Augsburg Fairview Academy > Minneapolis, MN
Minnesota charter takes a pulse on their financial future and creates a cash flow plan.
RESULT:
Urban school with 130 students stabilizes cash flow
CLIENT:
A charter public high school founded to help students from disenfranchised communities get to college and prepare for careers as health professionals. AFA offers innovative instruction that inspires "college prep" effort and gives students who need more help to reach this goal the support they need. So far, 90% of its graduates have gone on to college.
PROBLEM:
The state funding gap nearly tripled this past year when the governor transformed a 10% holdback into a 27% "unallotment". This was an arbitrary budget cut that left Minnesota charter schools with no meaningful collateral to obtain loans to cover their cash flow needs. Like other young, urban schools serving low-income communities, AFA had limited means to weather this crisis.
SOLUTION:
Within 45 days of initial application, Charter School Capital provided a $350,000 commitment to fund the short-term cash flow gap created by the 27% shortfall in state funding.
As an experienced businessman as well as an educator, I know the importance of having reliable and responsive financing when my school needs it. I also know the value of having strong financial partners: people whom we know we can trust. Charter School Capital succeeds 110% on both counts.”
Bill Spira
Executive Director