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Promise Academy Amends $275,000 IYR Loan Terms

Promise Academy
Disclosed value
Original interest-free loan of $275,000; additional grant of $300,000
From minutes
Document date
May 29, 2024

The 30-second brief

What it covers

Promise Academy approved an amendment to its original $275,000 interest-free loan agreement with IYR, removing the stated repayment period. IYR also provided an additional $300,000 grant to support the school’s operating needs.

Who holds it

IYR holds this financial services contract with Promise Academy.

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Contract details

Contract type
Financial Services
Amount
Original interest-free loan of $275,000; additional grant of $300,000
Document date
May 29, 2024
Vendor
IYR
Agency
Promise Academy
Source document
Promise Academy Board of Directors Meeting Minutes 2024-05-29 (Minutes)

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Questions about this contract

Who was awarded the financial services contract by Promise Academy?

IYR was awarded this financial services contract by Promise Academy, as recorded on May 29, 2024. The contract value is Original interest-free loan of $275,000; additional grant of $300,000.

How much is the IYR contract with Promise Academy worth?

The IYR contract with Promise Academy is valued at Original interest-free loan of $275,000; additional grant of $300,000, covering financial services work.

What type of contract is this?

This is a Financial Services contract, documented as a minutes record, structured as a not-to-exceed (ceiling) agreement.

Where was this contract approved?

This contract appears in Promise Academy Board of Directors Meeting Minutes 2024-05-29 (Minutes), dated May 29, 2024 from Promise Academy. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

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What other contracts does IYR hold?

IYR may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

What is Promise Academy currently buying?

Explore Promise Academy's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.

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