© The T&D. Photo by T&D Correspondent Yon Line.

LOAN OVERVIEW

Borrower: Orangeburg Consolidated School District 5 High School for Health Professions
Loan Amount: $3,825,000
Location: Orangeburg, SC
Project Type: Community Facility

SITUATION

OCSD5’s High School for Health Professions is a charter school serving Orangeburg high school students wishing to pursue careers in healthcare. OCSD 5 is a Title I school with a free/reduced lunch rate of 99%, yet it has maintained a graduation rate of 98.5% over the course of its nine years in operation which is well above the state average of 80.3%. The school was previously located in an outdated building lacking central air conditioning, but in 2017 the school was able to move into a new, much larger facility. However, the loan was still held by the school’s developer.

SOLUTION

The OCSD 5 received a $3,825,000 from South Carolina Community Loan Fund, a USDA Community Facilities Re-lender, to refinance the purchase of the new facility for the High School for Health Professions. SCCLF was able to provide the loan thanks to The Uplift America Fund, an innovative collaboration of government, finance, and philanthropy aimed at addressing poverty in rural America through capital investment. Learn more about the Uplift America Fund in our 2017 Annual Report’s Capital Spotlight.

IMPACT

The new 16,500 square foot space sits on 7 acres of land and gives the school the ability to expand as enrollment increases, while also providing a state-of-the-art learning experience to the more than 360 currently enrolled students. This school also provides 29 full-time and 2 part-time jobs to area educators. The terms of this new loan allow the district to spend less on debt service and reallocate funds to meet the educational needs of its students. The true impact of both the loan and the Uplift America partnership is an investment in a rural community that will produce generations of students prepared to care for their communities by pursuing careers in the healthcare industry.

Learn more about SCCLF’s Community Facilities lending program