Budgeting & Financing
We believe in the importance of education. Summit Construction Group will provide and assist charter schools, nationwide, in obtaining growth capital and financing. Securing a permanent, affordable school is an obstacle we will help to conquer and overcome. Building more schools is the key to unlocking the door to a successful future.
Here are some of the ways that Summit Construction Group has helped charter schools obtain facility financing and capital:
- Tax Exempt Bond: Summit works directly with private bond funds to assist in underwriting and get schools pre-approved. We have also taken schools to the open bond market to ensure the most competitive bond rates.
- Facility Lease to Stabilization: Summit can lease your facility to you for a period of time until the school is stabilized and able to obtain favorable permanent financing.
- USDA Financing: Some schools will qualify for the Rural Development Community Facilities support program from the USDA.
- New Market Tax Credits: The NMTC Program is available to stimulate private investment and economic growth in low-income communities. A federal tax credit of 39% is provided over seven years for private Qualified Equity Investments made through charter schools.
- Community Bank Loan: Conventional bank loans with competitive interest rates.