Low Income Investment Fund

Private Capital Providers: Nonprofit Lender
163
number of schools supported
$ 605,510,878.00
in financings

  • National

http://www.liifund.org/
  • one to three years 
  • more than three years of operating history or one charter renewal
  • charter management organizations
  • stand-alone schools
  • single-site schools

Serving the most vulnerable populations, Low Income Investment Fund (LIIF) is a steward for capital invested in community-building initiatives. In this role LIIF provides a bridge between private capital markets and low-income neighborhoods. In addition to providing financing for charter school facilities, LIIF provides credit enhancement, leasehold improvement loans, and technical assistance around the financing process; it helps schools understand what the different options are and what they can afford. Available products are detailed below:

 Terms (Years)
Acquisition loans3
Construction loans3
Mini-permanent loans7
Permanent loans25
Leverage loans for New Markets Tax Credit transactions7
Predevelopment loansN/A
Working capitalN/A

 

Maximum financing for a single project$10,000,000
Maximum amortization (years)25

 

Financial Overview
U.S. Department of Education (ED) Credit Enhancement$10,000,000
New Markets Tax Credit (NMTC) allocation total$458,000,000
Community Development Financial Institutions Bond Guarantee Program (CDFI BGP) allocation total$115,000,000

 

Portfolio Statistics
Total historic financing1$605,510,878
Number of schools supported163
NMTC allocation employed for charter facilities$163,535,951
Number of schools supported with NMTC32
CDFI BGP allocation deployed for schools$31,134,624
Number of schools supported with CDFI BGP6
Remaining capacity in CDFI BGP allocation$62,963,428

 

Portfolio Performance
$ amount of financing repaid/refinanced2$378,094,520
NMTC matured/refinanced$46,321,239
Total number of transactions3260
Original $ amount of defaults4$7,024,000
Number of defaults3
Default rate (% of total $ amount of financing)1.16%
Default rate (% of total number of financings)1.15%
$ amount write-offs$1,032,387
Number of write-offs3
Write-off rate (% of total $ amount of financing)0.17%
Write-off rate (% of total number of financings)1.15%

 

Footnotes:

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: June 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.