Press Release

Bonds will fund loans to help public charter school campuses access affordable facilities.

New York, NY –Equitable School Revolving Fund, LLC (ESRF) plans to market and sell approximately $300 million of social bonds to support high-performing public charter schools across the nation.

The upcoming bond issuance has been authorized by the Arizona Industrial Development Authority and may come to market as early as the week of November 20, 2023.

The sole member of ESRF is Equitable Facilities Fund, Inc., a nonprofit corporation created to provide low-interest loans that allow high-performing public charter schools, which receive significantly less funding than traditional school districts, to maximize the resources they dedicate to students.

Since EFF’s launch in 2017, it has surpassed over $1 billion in loans to 170+ high-impact charter school campuses across 20 states, providing access to affordable facilities, refinancing debt, constructing new buildings, and undertaking improvements at existing facilities.

“In communities across the country with few or no quality educational options, seats at public charter schools are an in-demand asset. Growing waitlists show us that families want more high-quality options, and it’s one of the reasons EFF portfolio schools have overperformed, with zero defaults in five years,” said EFF Founder and CEO Anand Kesavan. “Now with over $1 billion in loan capital, the portfolio is poised to create even more equitable opportunities for students in our most overlooked communities.”

EFF estimates that its low-cost loans have saved educational institutions over $250 million over the last five years, enabling them to redirect more dollars away from high-interest payments and into the classroom to enhance academic achievement.

To date, EFF has raised over $350 million in philanthropy that supports the fund’s credit
structure. It is currently raising an additional round of philanthropy with the intention to invest over $3 billion in schools serving more than 150,000 students by 2028.

ESRF has engaged Siebert Williams Shank as Senior Manager for the upcoming financing. Certain historical and general information about ESRF and its program is available on its investor relations page at www.esrfinvestors.org. Such information was true and correct as of its date and is not incorporated by reference herein.

About Equitable Facilities Fund
Equitable Facilities Fund is a 501(c)(3) nonprofit corporation created to provide low-cost facility loans that allow high-performing public charter schools to maximize the resources they dedicate to students. High-quality public charter schools promote bright futures for children across America, and EFF believes these schools should borrow under terms comparable to traditional public-school districts. EFF administers an 'A' rated revolving loan fund, which recapitalizes using funds from Equitable School Revolving Fund's bond issuances, to offer high-credit, long-term, scalable bond investment opportunities.