Goldman Sachs Loan to Finance New York-Area Charter Schools

The investment bank Goldman Sachs will lend $25-million to a nonprofit group to finance 16 charter schools in New York City and New Jersey, Bloomberg writes.

The Local Initiatives Support Corporation, which raises money for community groups that seek to revitalize low-income urban and rural areas, will make the Goldman funds available to school operators over the next two years. The financing could allow the schools to secure up to $100-million in additional capital.