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OpenState of California

2024 Credit Enhancement

State Treasurer's Office · State of California

At a glance

2024 Credit Enhancement is an open California state grant opportunity from the State Treasurer's Office (State of California). Applications are accepted on an ongoing basis. Total estimated funding is $20M. Applicant types listed as eligible include nonprofit and public agency. It is listed on the California Grants Portal. Cost sharing is not required.

Summary assembled from the official notice's fields. The official notice governs.

Key facts

Opened
Oct 1, 2024
Close date
Ongoing
Award floor
Not specified
Award ceiling
Not specified
Est. total funding
$20,000,000
Expected awards
Not specified
Matching funds
Not required
Funding instrument
Grant

Program details (as published on the California Grants Portal)

Type
Grant
Funding source
Other — U.S. Department of Education’s Credit Enhancement for Charter School Facilities Program (ALN 84.354A) • $20 million awarded in 2023
Matching funds
Not Required
Funding method
Advance(s) — The term of repayment for any financing in conjunction with a program award shall not exceed the useful life of the financed asset. Awarded reservation of funds shall be released and returned to the Authority when the funds are no longer needed for the authorized purposes. Awarded reservations will expire if the charter school does not use the funds within six months of Authority approval.
Estimated number of awards
Dependant on number of submissions received, application process, etc.
Estimated award amounts
Dependant on number of submissions received, application process, etc.
Award period
Duration of Bond
Expected award announcement
Ongoing
Letter of intent
Not required
Geography
Funds are available to charter schools operating in the state of California.
How to submit
Online: https://www.treasurer.ca.gov/sites/default/files/2025-11/credit-enhancement-application.pdf
Latest change note
6.12.26 - Updating open date to October 1, 2024 when the grant opened.

Who can apply

Applicant categories as listed on the California Grants Portal. GrantsJunction maps them to detailed applicant types for search and matching.

  • Nonprofit
  • Public Agency

Additional information on eligibility (from the listing)

Please refer to https://www.treasurer.ca.gov/csfa/enhancement/use

A quick check against the listed applicant types — other requirements in the notice still apply.

Based on the published notice. Review the official notice for complete eligibility requirements.

What it funds

Purpose and description as published on the California Grants Portal.

Purpose

The program is to award grants to eligible entities that help charter schools address the cost of acquiring, constructing and renovating facilities by enhancing the accessibility and availability of loans and bond financing. The program provides grants to eligible entities to permit them to enhance the credit of charter schools so they can access private-sector and other non-Federal capital in order to acquire, construct and renovate facilities.

Description

The federally-funded Charter School Facilities Credit Enhancement Grant Program was created from a $20 million grant awarded in 2023 through the federal “Expanding Opportunity through Quality Charter Schools Program- Credit Enhancement (CE) Program” (ALN#84.354A) grant competition in 2023. This program provides grants to fully or partially fund debt service reserve accounts on bond transactions issued through the Authority. The grant is intended to reduce the overall cost of borrowing for charter schools as it eliminates the need to fund the reserve through bond proceeds.

Program page on the agency site ↗

How to apply

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Past applications & awards

Historical data · not a prediction

Reported by the agency for this listing

  • Fiscal year 2025–269 applications · 6 awards
  • Fiscal year 2024–259 applications · 7 awards
Counts as published on the California Grants Portal. Award counts can read zero until decisions are announced.
Awards published
7
Total awarded
$11,540,155
Median award
$1,647,500 calculated
Smallest – largest
$1,054,550 – $2,000,000

Recipients by type: Nonprofit (7)

Areas served: Statewide (7)

Largest awards to organizations

  • SCCCS Facilities LLC2024 Credit Enhancement$2,000,000 · FY 2024–25
  • Fortune Facilities LLC2024 Credit Enhancement$2,000,000 · FY 2024–25
  • Magnolia Properties Management Inc.2024 Credit Enhancement$1,808,650 · FY 2024–25
  • WFCS Holdings IV, LLC2024 Credit Enhancement$1,647,500 · FY 2024–25
  • 241 National City Blvd. Fund, LLC2024 Credit Enhancement$1,629,455 · FY 2024–25
  • HTOM Facilities LLC2024 Credit Enhancement$1,400,000 · FY 2024–25
  • 330 W. Broadway LLC2024 Credit Enhancement$1,054,550 · FY 2024–25
Source: California Grants Portal grant award data. Awards to individuals are counted but not named. Past awards show who was funded; they do not predict future decisions.

Program contact (as published)

Katrina Johantgen
kjohantgen@treasurer.ca.gov
1-213-620-4608

Quick answers

Who is eligible to apply for “2024 Credit Enhancement”?

The official listing names these applicant types as eligible: Nonprofit and Public Agency. It adds: “Please refer to https://www.treasurer.ca.gov/csfa/enhancement/use” Additional restrictions may apply; review the full guidelines.

How much funding is available through “2024 Credit Enhancement”?

Per the notice, total estimated program funding is $20,000,000.

How do I apply for “2024 Credit Enhancement”?

Applications go directly to State Treasurer's Office, not through GrantsJunction. Submission: online at https://www.treasurer.ca.gov/sites/default/files/2025-11/credit-enhancement-application.pdf. Read the program guidelines on the agency's site first; state programs set their own forms and registration requirements.

Other open California state opportunities, matched on agency, categories and wording.