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Archive for January, 2021

Buck Financial Closed 14 Charter Transactions in “That Year”

Posted on: January 23rd, 2021

During “The Year which couldn’t end quickly enough”, Buck Financial Advisors closed 14 charter school transactions totaling about $350 million.  Transactions ranged from tax-exempt bond issues for established organizations to subordinate CDFI loans for start-up operations to loans through the Equitable Facilities Fund.  Many of these issues were to finance facilities for start-up schools operated by IDEA Public Schools and BASIS Charter Schools.  Great Hearts Texas continued their PSF-backed expansion in the Lone Star State.  High Tech High refinanced outstanding tax-credit and tax-exempt debt.  Alliance for College-Ready Public Schools remarketed an outstanding QSCB transaction.  Uplift Education put the finishing touches on their existing 5-year plan with an issuance of PSF-backed bonds.  KIPP SoCal continued its expansion in the Los Angeles metroplex, also with bonds.  And the Charter School for Educational Excellence in Yonkers currently refinanced outstanding tax-exempt debt.

It was a year to be proud of for charter schools, who did much better than their traditional public school counterparts in ensuring students continued to receive an education, and especially in offering in-person learning.  Despite uncertainty, most organizations stuck to their growth plans because they recognize the need for quality public education is so great.  It was truly inspiring to interact with so many quality organizations and individuals every day.

In the 20 years Buck Financial has operated, we have closed over 180 charter school transactions totaling over $4.6 billion.  Buck Financial is blessed to work with some of the highest-quality organizations in the country.  It is gratifying to continuing working with numerous returning clients, all of which are among the top performers in the charter school industry, as well as the addition of  such organizations as High Tech High and BASIS Charter Schools.

Buck Financial is also lucky to have relationships with so many lenders who share the mission of making quality education available in more and more communities.  Most (not all) of these lenders hung in there with growing organizations despite the uncertain funding and operational environment.  Buck Financial can help you to know with whom to partner and whom to avoid, and which financing sources would be a good fit with your organization.

Buck Financial will continue to advocate for students and families to have a choice as to the kind of public education they feel is best for them, and to call out obstacles political and otherwise that need to be understood and addressed.  Looking forward to the future for charter schools with energy, determination, and optimism.  Grateful for everyone’s support!