Project Acceleration Notes and Credit Enhancement Alternatives
🏛 State Treasurer's Office (California)
✓ Free, no account · Source: California Grants Portal · Last verified Oct 3, 2026
Can you apply?
This grant is for charter schools that need short-term interim financing. You must have received a reservation of funds through the Charter School Facilities Program or be awaiting long-term debt through the Authority's Conduit Bond and Note Financing Program. The program operates in California through the State Treasurer's Office. Funding supports bridge financing while longer-term funding is processed.
Not the right fit? Find grants for your organization in 5 questions →
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 Facilities Program reservation letter or Conduit Bond financing application status
- Project budget and timeline
- Evidence of project need and interim financing amount required
- Long-term financing commitment or anticipated closing date
- Board resolution authorizing interim note financing
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 is eligible for PANACEA funding?
Charter schools with a facilities program fund reservation or pending conduit bond financing are eligible. You cannot apply if you haven't qualified through one of these pathways.
What can the money be used for?
PANACEA provides short-term interim financing only. It bridges the gap until long-term debt is issued or facilities funds are released.
What is the typical funding amount?
Awards range up to $1,000,000. Exact amounts depend on your interim financing needs and project timeline.
How often can I apply?
The program uses rolling deadlines. You can apply when you have a qualifying facilities project and need interim financing.
Is there a cost-sharing requirement?
No cost-sharing or matching funds are required to apply for or receive PANACEA funding.
💡 Tips for applicants
- Start early: Contact the State Treasurer's Office before you formally apply to confirm your facilities program status. This saves time later.
- Document your timeline: Show exactly when your long-term debt will close or facilities funds will be available. This directly affects your interim financing amount.
- Know your funding source: Clearly identify whether you're relying on Charter School Facilities Program funds or Conduit Bond financing. This determines eligibility.
- Work with the Authority: Coordinate with the Conduit Bond and Note Financing Program staff before applying. They need to confirm your pipeline status.
- Have a repayment plan: Show how you'll repay interim notes once permanent funding arrives. Lenders want certainty on the exit strategy.
⚠️ Common mistakes
Applying without confirmed Charter School Facilities Program reservation or pending conduit bond financing. Projects outside the facilities financing pipeline cannot qualify for interim notes.
Underestimating the timeline for long-term financing. If permanent funding is delayed, interim notes may not bridge the full gap needed.
Missing key documentation from the Authority confirming your pipeline status. Without this, the State Treasurer cannot evaluate your interim financing request.
Similar grants
- ROLLING Project Acceleration Notes and Credit Enhancement Alternatives — State Treasurer's Office (California)
- ROLLING Replacing, Removing, or Upgrading Underground Storage Tanks Loan — State Water Resources Control Board (California)
- ROLLING Charter School Facility Grant Program – (SB740) — State Treasurer's Office (California)
- ROLLING Community and Economic Enhancement Grant Program – Proposition 68 — Sacramento-San Joaquin Delta Conservancy (California)
- ROLLING Tax-Exempt Equipment Financing Program – CHFFA — State Treasurer's Office (California)