DC Charter Facilities Fund
Every DC Student Deserves a Place to Thrive
The DC Charter Facilities Fund (DCCFF) provides affordable, fixed-rated, flexible financing to help public charter schools purchase, improve, build, and maintain the high-quality learning environments their students deserve.
Finding and financing great facilities is one of the hardest challenges DC charter schools face. High costs, limited land, and a competitive real estate market create barriers that too many schools can’t overcome alone.
The DC Charter Facilities Fund was purpose–built specifically to help charter schools access both short- and long-term, cost-effective capital to support their facility financing needs. loans, flexible terms, and a long-term commitment to DC’s students and communities.
Apply
Let’s Find the Right Financing for Your School
The DCFF is here to connect you with affordable capital and guide you through the process from start to finish. Whether you’re in early planning stages or ready to move forward on a project, we want to hear from you.
What to Expect:
- Complete the form — Tell us about your school and your facilities goals.
- Explore your options — We’ll help match you with the right lending program.
- Move forward — Access affordable financing and get to work building for your students.
About The Fund
The DC Charter Facilities Fund (DCCFF) is a $250 million revolving loan fund designed to ensure that DC public charter schools have access to the financing they need to create exceptional learning environments.
DCCFF consists of two complementary but independently managed funds, Equitable Facilities Fund and Level Field Facilities Fund, and is governed by Education Forward DC, Federal City Council, and representatives from the Clark Foundation, with advisory support from the DC Charter School Alliance. It is seeded with $28 million in philanthropic commitments, including a landmark $20 million investment from the A. James & Alice B. Clark Foundation.
Unlike one-time grants, repayment of loans made through DCCFF supports new projects. That means every dollar works harder and reaches further to serve DC students for generations to come.
DCCFF is made possible by additional philanthropic support from City Fund, Bloomberg Philanthropies, and David and Katherine Bradley.
How It Works
The DCCFF offers two complementary loan programs led by separate lenders to meet schools where they are, whether you’re just beginning to explore a new facility or need long-term fixed-rate capital for a major project.
- Equitable Facilities Fund (EFF): The EFF-administered fund provides long-term, fixed-rate, fully amortizing 30-year loans and short-term, fixed-rate, 5-year loans. Loans can support refinancing existing debt, tenant improvements, building or land acquisitions, renovations, and ground-up construction. EFF loans start at $3 million and can fully fund the loan.
EFF is a national nonprofit social impact fund dedicated to helping charter schools access capital at the lowest possible rates. EFF has deployed over $2B to charter schools nationwide, including Washington Yu Ying and Sojourner Truth Montessori. Learn more.
- Level Field Facilities Fund (LFFF): The LFFF DC Fund, part of LFFF’s broader national effort to support charter schools, will provide flexible and fixed rate, early-stage loans for acquisition, predevelopment, leasehold improvements, and starter construction capital, areas where charter schools often face the greatest barriers to accessing capital. An inherent feature of the fund is the ability to advance projects quickly from diligence to closing, helping to meet critical timing requirements.
LFFF is an innovative real estate fund established and managed in part by Level Field Partners to address critical financing gaps for scaling charter schools. LFFF provides flexible loans to high-quality charter schools to enable and preserve project and financing options for their critical facilities projects. At launch, the fund included Lee Montessori among its early borrowers, with Global Citizens Public Charter School as the inaugural borrower for the LFFF DC Fund. Learn more.
Loans are offered at highly competitive rates, often lower than private market options, with potential savings of $150,000 or more per school compared to traditional financing.
Frequently Asked Questions
What is DCCFF?
The DC Charter Facilities Fund (DCCFF) is a collaborative facility financing initiative that brings together Equitable Facilities Fund (EFF) and Level Field Facilities Fund (LFFF), along with Ed Forward DC and the Federal City Council. By combining local expertise with a flexible financing platform, DCCFF offers charter schools access to low-cost capital to support both existing and new financing projects. This integrated approach helps schools refinance existing debt and/or finance the renovation, improvement, or construction of new high-quality educational facilities.
Why does DCCFF exist?
DCCFF was created to provide schools with greater access to affordable capital for facility projects. The fund is designed to help schools save money, allowing resources to be redirected to teaching and learning.
How did DCCFF come to be?
DCCFF is the result of years of collaboration among Ed Forward DC, the Clark Foundation, EFF, LFFF, Federal City Council, OSSE, and a network of local and national funders. The initiative will provide support to DC charter schools for decades to come.
How is DCCFF structured?
DCCFF consists of two complementary but independently managed funds, one administered by EFF and the other by LFFF. Each organization is responsible for its own relationship management, underwriting, and ongoing loan services while working in coordination to meet the full range of school facility financing needs.
The initiative is guided and supported by a coalition of local organizations, including Ed Forward DC, the Federal City Council, the DC Charter Alliance, and representatives of the Clark Foundation and other foundations. This coalition supports the initiative’s overall success but does not participate in individual lending decisions.
Tell me about the two funds and how they differ.
The EFF fund provides long-term, fixed-rate, fully amortizing 30-year loans and short-term, fixed-rate, 5-year loans. Loans can support refinancing existing debt, tenant improvements, building or land acquisitions, renovations, and ground-up construction. EFF loans start at $3 million, with no maximum size, and can fund 100% of the loan without subordinate financing.
The LFFF fund provides flexible fixed-rate, early-stage development loans for acquisition, predevelopment, improvements to leased facilities, and starter construction, as well as senior and subordinate financing, areas in which charter schools can face the greatest barriers to accessing capital. An inherent feature of the fund is the ability to advance projects quickly from diligence to closing, helping to meet critical timing requirements.
How do I learn more about each organization and its offerings?
Visit the DCCFF landing page to explore the initiative, access additional resources, and complete a general intake form to get started.
I don’t know where to begin; what should I do?
That’s exactly what DCCFF is here for. Start by completing the online intake form with as much information as you have. Within a few days, a team member from EFF or LFFF will follow up to learn more about your project and help guide next steps.
How is financing through DCCFF different from working with other lenders?
DCCFF aims to offer competitive rates and tailored financing solutions designed specifically for charter schools. That said, the best financing option depends on your unique needs, timeline, and eligibility. We encourage schools to explore all available options to ensure the best possible outcome.
What are the lending limits for each fund?
EFF provides loans starting at $3 million, with no upper limit, and can fully fund projects (100% loan-to-cost) without additional subdebt.
LFFF offers more flexible financing solutions, with minimums that vary by product but generally start at $500,000.
What criteria do lenders use to determine eligibility?
Each lender evaluates borrowers based on many different factors; the biggest determinants are timeline, project scope, financial health, academic performance, student demand, and student demographics. Other factors include, but are not limited to: governance and leadership, authorizer relationship, and regulatory environment.
Can I apply to both funds at the same time?
Yes. While each fund is designed to support different stages of a facility’s project, there may be cases where both are relevant. Applying to both allows you to explore the full range of available options.
If I receive an LFFF loan, does that guarantee EFF financing later?
No. Each lender makes independent credit decisions. However, the two funds are designed to complement each other, and many schools may benefit from engaging with both early in the process.
How does DCCFF relate to other DC programs supporting charter school facilities?
DCCFF works alongside existing public programs to expand access to capital and provide additional flexibility for charter schools. It is designed to complement, not replace, other sources of support. We encourage you to review the DC Charter School Alliance’s newly released Facilities Playbook.
Is DCCFF intended to cover all charter school financings in DC?
No. While DCCFF represents a major infusion of capital and resources into the market, particularly over the long-term, it is not designed to meet all capital needs for all schools. Schools are encouraged to consult the DC Charter School Alliance’s Facilities Playbook to learn more about other OSSE opportunities for grants, loans, and credit enhancements.
What is the fund’s capacity, and how does it work?
The overall fund is currently sized at $250M, with potential to grow in the future. This is achieved through a revolving loan fund model that combines philanthropy with capital raised in the bond market. As loans are repaid, funds flow back into the fund and are redeployed to new loans.
What are the roles of Ed Forward DC and Federal City Council?
Ed Forward DC leads the steering committee responsible for the overall oversight and functioning of DCCFF. Ed Forward DC, as appointed by the Clark Foundation, is responsible for the long-term viability of the fund and shall manage financial obligations after the 30-year Clark investment comes to term. The Federal City Council is a member of the steering committee and supports policy and advocacy around facilities financing work.
Does DCCFF provide support outside of facility financing?
No. Matters related to project scoping, technical assistance, financial modeling, design, and construction are addressed in the DC Charter School Alliance’s newly released Facilities Playbook.
