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SOURCE Charter School Capital
The firm has invested $1.6 billion in charter schools, serving 800,000 students nationwide
PORTLAND, Ore., Dec. 28, 2017 /PRNewswire/ -- Charter School Capital, the first national financial services provider exclusively focused on charter schools and the students they serve, has in just 10 years invested $1.6 billion in charter schools in 11 states, serving upwards of 800,000 students in more than 600 schools across the country. The Portland-based firm's growth numbers are staggering, with assets under management (AUM) growth regularly hitting more than 20 percent year over year, including a 38 percent growth rate in 2017.
The growth of Charter School Capital has been impressive, especially when considering the firm would choose to focus on a market that was untapped when president, CEO and co-founder Stuart Ellis became aware of the funding challenges faced by charter schools. Ellis left his job as a bank consultant and shared his vision for solving these funding challenges with eventual co-founder and chief financial officer, Brad Coburn, then a managing director at Countrywide Financial. Together, the two created a solution for charter schools that was previously unavailable.
"We knew that we wanted to do something with a big social impact – schools and the teachers who inspired us made a big difference in our lives," says Ellis. "When we learned about the many obstacles that charter schools endure around maintaining a flow of working capital, we knew it was a problem we could solve."
Charter School Capital first focused on providing a reliable source of funding to charter schools who were growing in order to help them stabilize operations in the following areas:
It was in 2007 when Charter School Capital provided its first charter school client with working capital, allowing the charter school to focus on education – not finances. Coinciding with the worst credit market crisis in decades, when financial markets were drying up around the world, this first transaction became the business model that drove Charter School Capital to its market leading position today.
In 2014, Charter School Capital expanded its capabilities to include facilities financing through the formation of American Education Properties, LLC (AEP). Unlike other facilities financing options, AEP financing was designed to allow each school to determine its own long-term facility needs by offering continued access and full control of their buildings. This approach represented a major improvement from the year-to-year lease renewals typically faced by charter schools. Through AEP, Charter School Capital has purchased 41 charter school facilities around the country.
"We have a team of talented and passionate people and partners who believe in what we do and the communities we serve," says Ellis. "They're what's really behind our growth and success. The most gratifying aspect is in knowing that we've helped more than 800,000 students. That's a lot of families, and a lot of bright futures."
About Charter School Capital:
Launched in 2006, Charter School Capital delivers access to growth capital and facilities financing to charter schools nationwide, opening the funding options charter schools historically have not had. Charter School Capital has provided $1.6 billion in funding to 600+ charter schools, providing high-quality education to more than 800,000 students across the United States. For more information, visit charterschoolcapital.org or email GrowCharters@charterschoolcapital.org.
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