Level Field Facilities Fund (LFFF) announced the launch of the LFFF National Fund, an innovative loan program designed as a dedicated source of flexible early-stage capital at scale for charter school facilities development. The $50 million National Fund is capitalized by five partners – JPMorgan Chase, Enterprise Community Loan Fund, Nonprofit Finance Fund, Reinvestment Fund, and the Walton Family Foundation – and serves as the early-stage entry point in a broader facilities financing continuum.
The LFFF National Fund supports acquisition, predevelopment and leasehold improvements, and provides starter construction capital to support early-stage expansion, chronically underserved segments of the charter school financing landscape.
The fund builds on the experience of LFFF’s pilot fund, which deployed more than $19 million of critical project loans to high-quality charter schools, leveraging $110 million in total debt and demonstrating strong demand for early-stage facilities financing.
The pilot fund was supported by early investments from Reinvestment Fund, the Walton Family Foundation, and Nonprofit Finance Fund. With the fund fully deployed, LFFF launched the National Fund to expand this model and meet continued demand across more schools and markets.
The five capital partners worked collaboratively to bring the fund to market, the Walton Family Foundation providing catalytic capital, JPMorgan Chase serving as lead lender, Reinvestment Fund collaborating on the fund’s design, Enterprise Community Loan Fund providing structural leadership, and Nonprofit Finance Fund contributing flexibility and scale. Broadstreet Impact Services is also supporting the fund with a $1 million operational grant to help cover closing and ongoing costs.
“By strengthening the early-stage pipeline, this fund helps ensure that strong schools can access the facilities financing they need to grow responsibly,” said David Streim, Vice President at Nonprofit Finance Fund.
Fund outcomes will be measured through metrics that reflect student reach, financial leverage, and borrower experience, ensuring the fund remains responsive to both schools and capital partners.
Read the full announcement to learn more about the LFFF National Fund.
