Innovative Schools

Loan Guaranty Program

Assisting Charter Schools Obtain Financing for Building
Acquisition, Renovation, Construction, or Leasehold Improvements

Innovative Schools’ Loan Guaranty Fund is a charitable trust that offers financial backing to Delaware charter schools so that they are able to secure bank financing for building acquisition, renovation, construction, or leasehold improvements. The fund is comprised of donations from the Rodel Foundation of Delaware, Longwood Foundation, Welfare Foundation, and MBNA Foundation (now Bank of America).

To date, schools that have benefited from the Loan Guaranty Fund include Newark Charter School, Delaware Military Academy, Delaware College Preparatory Academy, Maurice J. Moyer Academy, Odyssey Charter School, East Side Charter School, and Family Foundations Academy. 

All Delaware charter schools are eligible for the Loan Guaranty Fund, and will be asked to complete an application. Innovative Schools conducts an initial screening assessment to evaluate 11 characteristics of applicants.

The process from completed application to final recommendation takes six to eight weeks. Funds are limited; not all requests can be accommodated. Fees are outlined in the Loan Guaranty Application, and are subject to change.