FDC: Nor-Cal
Lender: California Bank & Trust
Use of Proceeds: CRE Purchase

Economic Impact
Jobs Created: 3
Jobs Retained: 41

Senate District: 10
Assembly District: 18

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Since 1979 California Crosspoint High School (CCHS) has provided a comprehensive, university preparatory educational program. Notwithstanding humble beginnings and modest resources, CCHS students have attained national and international acclaim for their academic achievements, civic commitments and personal character.

Nor-Cal FDC collaborated with California Bank and Trust, and its affiliate Zions Bank National Association Boston (ZB N.A.), to structure a term loan for $7,299,750, with the aid of a California Infrastructure and Economic Development Bank (IBank) loan guarantee. CCHS used the proceeds to purchase a tax-exempt private placement bond in support of the acquisition of a 100% owner-occupied former technical school building. “Nor-Cal was attracted to the loan because the school serves a lower income and recent immigrant population and provides an education equivalent to the more expensive private schools in the Bay Area”, states Byron Phillips, Director of Loan Production for Nor-Cal FDC. “Assisting CB&T in providing the opportunity for a well-regarded educational institution to own its facility was of primary importance to the mission of Nor-Cal.”