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Charter School Business
June 2009 Newsletter
CHARTER SCHOOL FINANCIAL PLANNING
BY Brent Van Alfen
One aspect of responsible financial planning is the thoughtful creation and maintenance of realistic financial projections.
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PRIVATE SCHOOL FACILITY LOANS
The Right Fit
Most of us have had the misfortune of buying a new article of clothing and, after getting it home, we decide it is just a little too big or small. We must then send it back to the catalogue store or take it back to the mall. Sometimes this may happen after we wash the clothing and it shrinks even a little bit. Sometimes it happens over a longer period of time as we gain weight. No matter how it happens, when we don't have the right fit in the clothes we wear, it is not a good thing!
The same result can occur in funding your school facility, however, and then it is a much worse thing! Very few private schools have someone on their board or management team who has the experience or training to arrange a multimillion dollar funding for a facility. Very few school managers or board members know where to start or what questions to ask such as follows. What types of lending institutions are active in lending to the private school market? Which companies in those types of lending categories will entertain a private school facility funding? How many such companies are there? How many quotes should you get? What issues are negotiable and which ones are not? How do you know where the "bottom line" of a lender is? After all, would you litigate a multimillion dollar lawsuit yourself? Of course not, you would hire an attorney to represent you. The same principle applies to multimillion dollar financings. You need to call upon an expert to assist you.
Whether you want to finance a classroom wing, administrative offices, dormitories, etc., at Providence Financial Company, Inc. we know how to arrange private school facility funding for you. It makes no difference whether your school is faith based or not, we have lenders that are in your market. Use us on a project basis as your representative and advisor to the lending market. We have approximately $100M of private and charter school facility funding in our system at almost any one time and that makes us the largest single independent marketer of private and charter school facility loans in the country. We have working relationships with almost all of the active lenders for private school facility loans. We know where the lender is and which of his programs will result in the "RIGHT FIT" for your school.
None of the above helps you, however, unless we know your school and its needs on a personal level. If you ask us to represent you, we will come to your campus and meet with the key people in your organization. We will create a proposal package to submit to as many lenders as needed to find the "RIGHT FIT" for your school's funding needs. The best part of the story is that if we don't find your school a satisfactory funding, you owe us nothing!
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