Loan Portfolio

Location: Sarasota, Florida
Enrollment: 752
Loan Amount:  $8.9 million
School Savings: $4.2 million
School Site:  www.ssas.org
Ratings Direct: Sarasota School of Arts and Sciences
Obligor Summary: Sarasota School of Arts and Sciences Obligor Summary

Founded in Sarasota, FL in 1997, Sarasota School of Arts and Sciences (SSAS) serves 750 students in grades 6-8 and has a mission “to provide a motivating, challenging, and creative learning climate with a safe, caring, family atmosphere.” The school’s diverse student body benefits from an academic model that is rooted in liberal arts education, and offers students a multicultural curriculum that relies on an interdisciplinary, hands-on, thematic approach. This approach has consistently earned SSAS an ‘A’ rating and designation as a “High Performing Charter” from the Florida Department of Education.

EFF provided an $8.9 million loan to refund bonds that were used to construct the school’s main instructional building and gymnasium in 2010. This 30-year, fixed-rate loan will save SSAS over $4.2 million compared to alternative financing options.