Location: Erda, Utah

Problem:  A charter school needed financing to expand its facility to serve more students

Solution:  Rural Community Assistance Corporation’s (RCAC) Loan Fund provided a $9.9 million community facility loan

Schools often face challenges to expand or build new facilities, especially in rural areas. Erda, Utah, a Census Designated Place in Tooele Valley, has a charter school called Excelsior, which is open to all students on the same basis as a public school. Utah charter schools have their own boards of directors that are responsible to parents and the state board of education.

Erda has a population of 2,181, and a median household income of $73,344. More than 30 percent of the population is under 14 years old. In Utah, charter school enrollments are increasing at a faster pace than public schools. Excelsior had a waiting list of 450 students, and it needed a new building to house junior high school students and meet the growing community’s demand.

RCAC’s loan fund provided a $9.9 million construction loan through the U.S. Department of Agriculture Community Facilities Relending Program, which allows Excelsior to expand its current capacity from 695 to 1,250 students and provide essential educational services to Erda’s families.