Taxable Term Loan
Friendship Public Charter School is a non-profit District of Columbia corporation founded in 1998. Friendship operates under a 15-year charter with the District and is one of DC’s largest and highest-performing public charter school networks, with 16 schools serving over 4,500 students in prekindergarten through 12th grade. Friendship prepares students for college success and a career of their choice and empowers students to achieve high academic standards, enjoy learning, and develop as ethical and well-rounded citizens who contribute actively to their communities.
Taxable Term Loan for the purchase, renovation, furnishing and equipping of Friendship’s new Hope Lamond campus located at 6200 Kansas Avenue, NE in Washington, DC.
In June 2021, Friendship closed on the acquisition of the Hope Lamond site utilizing its own equity. This taxable financing reimburses Friendship for all of its out-of-pocket costs and allows Friendship to optimize its liquidity position before its year-end reporting requirement on December 31, 2021. The financing is structured as a short-term, variable rate taxable loan that is intended to be converted to longer term, fixed rate tax-exempt financing within the next two years.