Civic Builders

Service Providers: Nonprofit LenderNonprofit Real Estate Developer
schools supported
$ 72,752,735
in financings

  • less than one year 
  • one to three years 
  • more than three years of operating history or one charter renewal
  • charter management organizations
  • stand-alone schools
  • single-site schools

The mission of Civic Builders is to ensure that real estate will never be a barrier to an excellent education.

Civic Builders provides financing directly to charter schools. Its development model includes the following roles and services: fee-based development, project management, turnkey development, landlord and lease-to-purchase options, credit enhancement, feasibility assessment/site selection, site identification, and leasehold improvement loans. It also helps connect charter schools to lenders. Available products are detailed here:

Type of ProductTerms Amortization
Acquisition Loan1 year 1 year
Construction Loans2 years 1-2 years
Mini Permanent Loans7 years Lesser of lease term or 15 years
Predevelopment Loans1 year 1-2 years
Maximum Financing for a Single Project$2,000,000

When evaluating a school project, Civic Builders considers historical financial and academic performance, school leadership and governance, and projected cash flows available for lease payments.

Recent Projects
Name of SchoolTotal Project Cost Lenders Involved
East Harlem Scholars Academy$27,000,000 Civic Builders, Chase, Reinvestment Fund
Great Oaks Charter School$9,000,000 Civic Builders, Chase, Reinvestment Fund
Blackstone Valley Prep$16,000,000 Civic Builders, Eastern Bank, Boston Community Loan Fund
Heketi Community Charter School$11,000,000 Civic Builders, Low Income Investment Fund, Nonprofit Finance Fund, Boston Community Loan Fund, US Bank
DREAM Charter School$52,000,000 Civic Builders, Chase, Nonprofit Finance Fund, National Community Investment Fund

Key Statistics:

Financial Overview
U.S. Department of Education (ED) Credit Enhancement$8,300,000
New Markets Tax Credit (NMTC) allocation total$78,000,000
Community Development Financial Institutions Bond Guarantee Program (CDFI BGP) allocation total$0


Portfolio Statistics
Total historic financing1$72,752,735
Number of schools/projects supported22
NMTC allocation employed for charter facilities$38,000,000
Number of schools supported with NMTC5
CDFI BGP allocation deployed for schoolsN/A
Number of schools supported with CDFI BGPN/A
Remaining capacity in CDFI BGP allocationN/A


Portfolio Performance
$ amount of financing repaid/refinanced2$5,232,088
NMTC matured/refinanced$0
Total number of transactions318
Original $ amount of defaults4$0
Number of defaults0
Default rate (% of total $ amount of financing)N/A
Default rate (% of total number of financings)N/A
$ amount write-offs$0
Number of write-offs0
Write-off rate (% of total $ amount of financing)N/A
Write-off rate (% of total number of financings)N/A


1Financing defined as grants, recoverable grants, loans, and guarantees.

2Includes full repayments only; does not include partial amortizations or restructurings.

3Number includes only those financings with a repayment obligation; it excludes grants.

4A defaulted loan is defined as one in which the school can no longer make debt service payments and the lender must litigate or foreclose for repayment. This figure represents the loan amount at origination, not the amount outstanding at default.


Last updated: August 2017


Disclosure: Information on this page has been provided by the organization. Any questions related to figures or programs listed should be directed to the contact shown above. Keep in mind that each school’s situation will differ slightly and you’ll need to speak to the contact listed for information specific to your school.