"LFFF has been an invaluable partner to us. They not only connected us to crucial CDFI financing options, but taught me and our team how to fish—giving us the confidence to manage building search, acquisition, and financing on our own. Most importantly, they adapted to our needs as a school, providing bridge funding when we needed it and helping us adjust our path when our plans had to shift with our school’s reality."
LFFF is an innovative real estate fund established by Level Field to address critical financing gaps for scaling charter schools. We provide early-stage, flexible loans to high-quality charter schools to enable and preserve project and financing options for their critical facilities projects.
What We Offer
Pre-Development Financing
Preserving schools’ cash reserves while they execute on critical diligence, design, pricing, and entitlement activities prior to securing project financing.
Acquisition Loans
Enabling operators to purchase land or buildings before construction financing is in hand.
Construction and Leasehold Financing
Providing highly flexible construction financing designed to meet schools’ most acute project financing needs.
Our Impact
LFFF closed its initial pilot fund in late 2021. In less than two years, the LFFF pilot fund…
- Deployed more than $15 MM of critical project loans to high-quality charter schools
- Leveraged $71 MM in total debt
- Supported 4,000 students
- Helped schools add 1,300 new seats
- On average, funded schools with 84% of students qualifying for the federal free and reduced price lunch program
- Funded charter operators across 8 states
Building on the strong success of the pilot fund, Level Field is actively raising capital for a second, larger fund so that we can support more projects and schools.
What Makes LFFF Different?
Deep Charter School Expertise
Our team, comprised mostly of former charter school operators, brings unparalleled understanding of school borrowers’ needs, ensuring tailored financial solutions.
Early-Stage Focus
As the “first money in,” we provide crucial project-enabling capital when projects are least certain, bridging the gap between concept and concrete plans for scaling schools.
Impact-Driven Capital
Backed by sector-leading impact investors like Walton, JPMorgan Chase, and Reinvestment Fund, we offer stable, reliable project financing aligned with our mission to improve educational equity and access.
Proactive, Problem-Solving Approach
Drawing on both our real estate and our experience as operators, we find creative solutions to underwriting challenges that address schools’ financing needs and protect investor interests.
“The LFFF team has shown that they’re thoughtful, committed to learning as they progress, and serious about effective and strategic partnerships. LFFF has a deep network, knows what it takes to build quality charter facilities, and quickly determines which schools can take on debt.”
Khaliff Davis, Managing Director of Fund Management
Reinvestment Fund“LISC is always looking for the missing piece of the puzzle, and this fund was another tool in the toolbox, especially for early operators and single site schools. Level Field provides schools with a suite of expertise. We quickly realized that if Level Field is in the deal, it will go more smoothly. They're aligned with our mission and have become good partners. LFFF is a good addition to the lending landscape.”
Crystal Langdon, Senior Director of Lending, Charter School Financing
LISC"Walton Family Foundation is happy to partner with the experts at LFFF and the Fund’s mission-aligned capital partners to get charter operators on the path to an affordable facility by making loans for facility pre-development needs in tandem with sound real estate technical assistance to the school borrower.”