Project Acceleration Notes and Credit Enhancement Alternatives
🏛 State Treasurer's Office (California)
✓ Free, no account · Source: California Grants Portal · Last verified Sep 5, 2026
Can you apply?
This grant is for charter schools seeking financing for construction or rehabilitation of school facilities. Applicant schools must be charter schools operating or authorized to operate in California. The program provides a hybrid funding model: 50% grant and 50% low-cost loan. Eligible projects include new permanent school facility construction or rehabilitation of existing school district facilities to serve charter school students.
Applicants must demonstrate financial soundness as part of the certification process. The California School Finance Authority (CSFA) reviews financial applications and provides certification of financial capacity. Schools must work with both CSFA and the Office of Public School Construction (OPSC) throughout the process.
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Program description
The Project Acceleration Notes and Credit Enhancement Alternatives (PANACEA) Program supports short-term interim financing to charter schools that have received a reservation of funds through the Charter School Facilities Program or are awaiting the issuance of long-term debt through the Authority’s Conduit Bond and Note Financing Program.
Who can apply
Eligible applicants
How to apply
Application links
Required documents
- Charter school authorization documentation
- Facility project plans and specifications
- Cost estimates and construction timelines
- School financial statements and audits
- Financial projections (5+ years)
- Board resolutions authorizing the application
- Evidence of community support
Program contact
- 📧 csfa@treasurer.ca.gov
- 📞 1-213-620-4608
Funding track record
Past applications & awards under this program (California Grants Portal) — how competitive it is.
By fiscal year
| Fiscal year | Applications | Awarded | Award rate |
|---|---|---|---|
| 2022-2023 | 1 | 1 | 100% |
| 2023-2024 | — | — | — |
| 2020-2021 | — | — | — |
| 2021-2022 | 6 | — | 0% |
| 2024-2025 | 1 | 1 | 100% |
| 2025-2026 | — | — | — |
Source: California Grants Portal
FAQ
Who can apply for CSFP funding?
Charter schools in California can apply for facility construction or rehabilitation financing. Your school must be authorized to operate as a charter school in the state.
What projects are eligible?
You can use funds for new permanent school facility construction or rehabilitation of existing school district facilities. Projects must serve charter school students.
How does the funding work?
The program provides 50% grant and 50% low-cost loan financing. You will need to repay the loan portion over time while the grant portion is non-repayable.
What is the financial soundness review?
CSFA requires you to demonstrate financial capacity before receiving funds. Your school will be reviewed for fiscal stability and ability to manage the project.
How do I apply?
Contact CSFA or OPSC directly for application procedures. The process involves financial documentation, project plans, and certification approval.
💡 Tips for applicants
- Start by confirming your school's charter authorization status with the California Department of Education. This is a prerequisite for CSFP eligibility.
- Develop a detailed facility plan before applying. Include construction timelines, cost estimates, and how the facility serves students.
- Prepare comprehensive financial statements and audits. CSFA will scrutinize your school's fiscal health carefully.
- Understand the 50% loan obligation. Budget for loan repayment in your school's long-term financial planning.
- Engage with both CSFA and OPSC early. These agencies jointly administer the program and both must approve your application.
⚠️ Common mistakes
Applying without confirmed charter school authorization. Schools lacking clear authorization status face automatic rejection.
Underestimating loan repayment costs in budgets. The 50% loan portion requires long-term financial commitment many schools overlook.
Submitting incomplete financial documentation. CSFA rejects applications missing audits, income projections, or operational history.
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