Bushwick Ascend Charter School

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Four CDFIs collaborated to provide financing for Bushwick Ascend Charter School to renovate a 50,000-square-foot school for their K-4th grade students. LIIF, along with The Reinvestment Fund and Enterprise Community Loan Fund, participated in the financing led by the Nonprofit Finance Fund on the deal. LIIF also coordinated U.S. Department of Education charter school credit enhancement through the Charter School Financing Partnership for the project. The new elementary school campus is located in Bushwick, a low income neighborhood in central Brooklyn. Bushwick Ascend is a one-year-old charter school operated by Ascend Learning, a nonprofit charter management organization that operates three schools in Brooklyn and aims to bridge the achievement gap for economically disadvantaged children.

Project Details

548 students served
50,0000 square feet of school space improved
$2 million construction to permanent financing
$1.3 million U.S. Department of Education Charter School Credit Enhancement

  • Nonprofit Finance Fund
  • Enterprise Community Loan fund
  • The Reinvestment Fund

More Information
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