Is CCFS a commercial bank?
No, CCFS is not a commercial bank. However, CCFS does have a pool of funds to lend from and can work alongside a commercial bank or community development financial institution to create a total loan package for a building project.
Is CCFS a grantor?
No, CCFS is not a grantor. We do provide subordinate loans to schools to use as down payments to go towards facilities, but these funds are not grants, and are to be paid back to CCFS.
Does CCFS partner with the senior lender?
Yes, CCFS partners with banks and other financial institutions (the senior lender) to prepare a complete loan package for the school for a new or renovated facility.
Does CCFS provide a capital investment to the school?
Yes, CCFS does provide a capital investment that generally can function as a substantial portion of the down payment on a building purchase or renovation. This investment will have repayment terms agreeable to both parties, and is not a grant or gift.
Can CCFS provide loans for tenant improvements?
Yes, CCFS has provided tenant improvement loans, though such loans will represent only a small portion of the lending work that CCFS does.