FINANCIAL_SERVICESAPPROVED

Charter Fund, Inc. Subordinated Loan Agreement 2026-05-11

Charter Fund Provides $3M Subordinated Loan to Navigator

$3,000,000Hollister Prep DistrictCHARTER FUND INC DBA CHARTER SCHOOL GROWTH FUNDMay 11, 2026

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Description

Charter Fund, Inc. d/b/a Charter School Growth Fund is making a $3,000,000 subordinated loan at 1.0% interest to Navigator Schools to provide flexible operating support for its charitable, tax-exempt purposes. The loan will close on or around May 15, 2026 and be repaid in five annual installments from June 30, 2027 through June 30, 2031, subject to covenants and milestones set in the agreement.

Contract Details

Contract Amount

$3,000,000

Vendor

CHARTER FUND INC DBA CHARTER SCHOOL GROWTH FUND

Agency

Hollister Prep District, CA

Contract Type

FINANCIAL_SERVICES

Document Date

May 11, 2026

Contract Term

Closing on or around May 15, 2026; five annual repayments of $600,000 plus interest due June 30, 2027 through June 30, 2031 at 1.0% interest

Renewal Date

2031-06-30

Renewal Info

Loan amortizes in five annual installments of $600,000 plus interest from June 30, 2027 through June 30, 2031; no explicit renewal or extension options are described, but the agreement may be amended in writing by both parties.

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