Self-Help Credit Union, Self-Help Federal Credit Union, and Self-Help Ventures Fund
Service Providers: Nonprofit Lender
- less than one year of operating history
- one to three years of operating history
- more than three years of operating history or one charter renewal
- charter management organizations
- stand-alone schools
- single-site schools
Self-Help’s mission is to create and protect ownership and economic opportunity for all by providing responsible financial services, lending to small businesses and nonprofits, developing real estate, and promoting fair financial practices. While its work benefits communities of all kinds, its focus is on those who may be underserved by conventional lenders, including people of color, women, rural residents, and low-wealth families and communities. Self-Help provides the following financial services: financing, financing technical assistance, real estate development, and real estate technical assistance. Available products are described below:
| Terms (Years) | |
|---|---|
| Acquisition Loans | 25 |
| Construction Loans | 25 |
| Mini-Permanent Loans | 25 |
| Permanent Loans | 25 |
| Predevelopment Loans | 25 |
| Working Capital | 25 |
| Maximum financing for a single project | $30,000,000 |
| Maximum amortization (years) | 25 |
Key Statistics:
| Financial Overview | |
|---|---|
| U.S. Department of Education (ED) Credit Enhancement | $27,200,000 |
| New Markets Tax Credit (NMTC) allocation total | $413,977,745 |
| Community Development Financial Institutions Bond Guarantee Program (CDFI BGP) allocation total | $200,000,000 |
| Portfolio Statistics | |
|---|---|
| Total historic financing1 | $414,000,000,000 |
| Number of schools supported | 136 |
| NMTC allocation employed for charter facilities | $214,116,852 |
| Number of schools supported with NMTC | 48 |
| CDFI BGP allocation deployed for schools | $24,264,000 |
| Number of schools supported with CDFI BGP | 2 |
| Remaining capacity in CDFI BGP allocation | $82,000,000 |
| Portfolio Performance | |
|---|---|
| $ amount of financing repaid/refinanced2 | $252,500,00 |
| NMTC matured/refinanced | $200,971,973 |
| Total number of transactions3 | 134 |
| Original $ amount of defaults4 | $7,825,350 |
| Number of defaults | 4 |
| Default rate (% of total $ amount of financing) | 1.9% |
| Default rate (% of total number of financings) | 3% |
| $ amount write-offs | $187,460 |
| Number of write-offs | 2 |
| Write-off rate (% of total $ amount of financing) | 0.05% |
| Write-off rate (% of total number of financings) | 1.5% |
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: October 2021
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.