After repairing/strengthening their client's balance sheet, Orbital was successful in obtaining a credit enhancement from IFF, the largest Midwest Community Development Financial Institution (CDFI). Acting as a financial intermediary, IFF helps bridge the gap between low income neighborhoods and public and private capital sources. The credit enhancement, a federal program, provides grant funds on a competitive basis to public and nonprofit entities to develop innovative credit enhancement models that assist charter schools in leveraging capital from the private sector. At just under $1M, IFF's credit enhancement saved the school 25 years of interest expense on an equivalent amount. At current rates, this saved Orbital's client just over $1 million in debt service. In turn, this allowed the school to increase their borrowing to cover additional capital expenditures.
