Daily News: September 29, 2014

NexBank Provides $10MM Facility to Uplift Education

NexBank SSB provided a $10 million credit facility to Uplift Education, North Texas’ largest public charter school network, to support its expansion in the Dallas area.

“Uplift Education is a strong borrower that has a proven record of academic success as well as cost-effective operations in their school programs,” said Grant Smith, SVP and chief lending officer of NexBank SSB. “We are pleased to partner with Uplift Education, providing them with the opportunity to expand student enrollment and improve educational opportunities for all students in the Dallas area.”

“With this loan, NexBank becomes an important partner in our effort to make a high quality college preparatory education available to more students in North Texas. They’ve stepped into the gap between our 2014 and 2015 bond issues and are helping us keep our growth on track as we pave the way for three more Uplift campuses,” said Bill Mays, CFO of Uplift Education.

Uplift Education develops public school programs that empower students to reach their highest potential for success in college and beyond. 100% of the class of 2014, 388 students, received college acceptance letters and more than $67 million in scholarships and grants. The organization offers education to underserved communities throughout North Texas, and 60% of their students qualify for Free and Reduced Lunch programs.

Uplift Education operates 32 schools in the Dallas and Fort Worth regions that enrolled nearly 12,000 primary, middle school and high school students in the 2014-2015 school year. The organization plans to increase enrollment to 13,000 students by 2016. The financing will support the opening of three school facilities in Oak Cliff, Southeast Dallas and Southwest Dallas, as well as projects related to the construction of instructional-use facilities on the three properties.

NexBank partners with local and national organizations dedicated to making a difference in their communities.